crefeed.com | Hackensack apartment building sells for $23.6 million

8/8/2008

Hackensack apartment building sells for $23.6 million

The Carlyle Apartments

Holliday Fenoglio Fowler facilitated the sale of The Carlyle Apartments, a 13-story, 128-unit Class A multi-family in Hackensack, N.J., for $23.6 million. The buyer was a local investor.

HFF's Thomas Didio represented the seller, Carlyle Apartments, Tenants in Common. The seller was an entity controlled by Hekemian & Co., Inc. a family-owned real estate management and development company with a focus on the Northeast and Mid-Atlantic real estate markets.

Built in 1972, the 95-percent leased property has 89 one-bedroom and 39 two-bedroom units at an average of 864 square feet.

The Carlyle Apartments are less than six miles northwest of Manhattan at 380 Prospect Avenue in Hackensack. Located close to Interstates 80 and 95 as well as the Garden State Parkway, the community has a swimming pool and a 124-space parking garage.

Address: 380 Prospect Ave., Hackensack, N.J.

Size: 128 units

Built: 1972

Filed Under: Multi-Family

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