Hudson Atlantic Realty navigates complex sale of 59-unit affordable senior housing community
BAYONNE, NJ — Adam Zweibel, president of Hudson Atlantic Realty and Zweibel Multifamily Group, and the exclusive listing broker for the seller, announced the closing of the sale of Senior Horizons at Bayonne Urban Renewal, LLC, a 59-unit senior affordable housing community located at 74 Lexington Ave. in Bayonne.
The transaction stood out for its exceptional complexity, involving multiple overlapping regulatory restrictions, layered public financing, decades-long compliance obligations, and approvals from multiple government agencies — all typical of Low-Income Housing Tax Credit (LIHTC) rehabilitation projects.
Hudson Atlantic Realty navigates complex sale of 59-unit affordable senior housing community
BAYONNE, NJ — Adam Zweibel, president of Hudson Atlantic Realty and Zweibel Multifamily Group, and the exclusive listing broker for the seller, announced the closing of the sale of Senior Horizons at Bayonne Urban Renewal, LLC, a 59-unit senior affordable housing community located at 74 Lexington Ave. in Bayonne.
Source: MAREJ - Page 37
Hudson Atlantic closes sale of 59-unit senior affordable housing building in Bayonne
A private buyer has closed on a 59-unit senior affordable housing property at the south end of Bayonne, according to a listing team with Hudson Atlantic Realty.
In a news release, the brokerage said the building at 74 Lexington Ave. changed hands as part of an especially complex transaction. That involved multiple overlapping regulatory restrictions, layered public financing, decades-long compliance obligations and approvals from multiple government agencies, all typical of Low-Income Housing Tax Credit rehabilitation projects.
https://re-nj.com/hudson-atlantic-closes-sale-of-59-unit-senior-affordable-housing-building-in-bayonne/
Hudson Atlantic Realty announces sale of 55+ Luxury Development Site In Paramus, NJ
PARAMUS, NJ — Hudson Atlantic Realty announced the off-market sale of The Residences at Joy Farms, a fully approved 162-unit 55+ active-adult luxury apartment development site located at 731 Pascack Rd. in Paramus. Adam Zweibel, president of Hudson Atlantic, represented the seller and procured the buyer in the $9.25 million transaction, equating to $67,000 per market-rate unit (138 market rate-units + 24 affordable units).
The 9.877-acre shovel-ready site is entitled for three four-story residential buildings plus a separate clubhouse, delivering 162 luxury apartment homes with a desirable mix of 41% one-bedroom and 59% oversized two-bedroom units. Future residents will enjoy best in class amenities including a yoga/exercise studio, reading lounge, seamless indoor/outdoor social spaces, a bar/kitchen area, and 188 garage and surface parking spaces.
Hudson Atlantic Realty announces sale of 55+ Luxury Development Site In Paramus, NJ
PARAMUS, NJ — Hudson Atlantic Realty announced the off-market sale of The Residences at Joy Farms, a fully approved 162-unit 55+ active-adult luxury apartment development site located at 731 Pascack Rd. in Paramus. Adam Zweibel, president of Hudson Atlantic, represented the seller and procured the buyer in the $9.25 million transaction, equating to $67,000 per market-rate unit (138 market rate-units + 24 affordable units).