Representatives of CBRE, led by Jeffrey Dunne, Stuart MacKenzie, Eric Apfel and Travis Langer of CBRE Institutional Properties, announced the sale of The Waverton, a Class A multifamily community in Secaucus, N.J. for $47.8 million. CBRE represented the seller, a joint venture that included Canoe Brook as a minority partner. As part of the sale, Canoe Brook retained its ownership interest in the property.
Completed in 2022, The Waverton contains 116 apartments along with a 191-space parking garage. The property’s amenity package includes a fitness center with a private yoga studio, an outdoor lounge with BBQ grills, fire pits and an outdoor TV, an expansive sundeck with waterfront views, a resident lounge with billiards and shuffleboard, and coworking and conference rooms. Apartments feature spacious open layouts with luxury finishes, including stainless steel appliances, quartz countertops, wood-style flooring throughout and a full-size washer/dryer, among others.
Benefiting from a 30-Year PILOT, The Waverton is situated along the Hackensack River, offering waterfront views while providing convenient access to Manhattan in approximately 30 minutes via NJ Transit bus. Approximately 20% of the apartments are designated affordable.
“We are thrilled to have represented Canoe Brook and Woodmont Properties on the sale of The Waverton,” said Dunne. “This is a high-quality asset with extraordinary waterfront views, while the expansive amenity package rivals that of larger Class A properties in the market.”
