Gebroe-Hammer Associates has finalized the $166 million sale of the Hudson Waterfront’s newest River Road luxury hi-rise, The Duchess in North Bergen.
The firm represented developer LWH Urban Renewal LLC of Edgewater, and the buyer, Philadelphia-based Post Brothers.
Managing director Joseph Brecher led the Gebroe-Hammer team that included managing director David Oropeza, senior vice president Eli Rosen and senior vice president Nicholas Nicolaou.
The transaction marked the official closing of the development agreement for the land parcel brokered by Gebroe-Hammer in 2014.
A three-towered building located at 7601 River Rd., along North Bergen’s short stretch of River Road waterfront, The Duchess is the newest apartment building recently welcoming its first tenants to Phase I. Leasing opened this past spring for the complex, which includes a water terrace with a heated outdoor pool, private cabana beds and sun chaises and a veranda with yoga decks, a sandbox, co-working space and child-friendly spaces. “The Duchess has set a new standard for Hudson Waterfront living, where renter-by-choice tenants value a high-end lifestyle, front-door transit conveniences and proximity to New York City as well as its views, which they can bask in at any time of day from their apartment-homes,” said Brecher. “New Jersey’s Gold Coast is an ideal market that aligns with the buyer’s business strategy to offer differentiated multi-family product within in-demand submarkets like North Bergen.”
Situated adjacent to Hackensack Meridian Health/Palisades Hospital, The Duchess offers a mix of studio and one-, two- and three-bedroom layouts, ranging from 600 s/f to a three-bedroom, three-bath 2,600 s/f penthouse.