CBRE brokers NJ development site trade

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CBRE announced the sale of 803 South Avenue in Plainfield, New Jersey, a fully approved multifamily development site that will total 104 apartment units.

The CBRE team of Jeffrey Dunne, Jeremy Neuer, Gene Pride, and Zach McHale, along with colleagues Nat Gambuzza and Trevor Fiebel, represented the owner, a partnership between Bennett Realty & Development and EDEN Property Company, while also procuring the buyer, West of Hudson.

The site is within walking distance of the Netherwood Train Station which provides direct access to Manhattan in under one hour.

“We are thrilled with the outcome of the process on behalf of Bennett Realty & Development and EDEN Property Company, LLC in this sale,” said Neuer. “Plainfield is a community on the rise and the interest in this site reflected that. Tyler Bennett, Dennis Cieri and their team did an amazing job of taking this site through the development cycle.”

“This fully amenitized project will provide its residents with a magnificent ±8,900 sq. ft. outdoor amenity space with three separate seating areas and a grilling station, a club room, fitness center, and covered/secure parking. This project will stand out among the new construction in the area,” added Gambuzza.

t www.cbre.com.

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