Alpine Development JV sells OZ luxury apartment community 

A partnership between Alpine Development, Fields Development Group and Grade Development Co. has sold BELA, a newly developed, 104-unit, luxury apartment community located within a qualified opportunity zone in the rapidly expanding Bergen-Lafayette neighborhood of Jersey City, N.J.

Golden Glades Capital Management purchased the asset free and clear of existing financing. The sales price was $53 million. 

BELA is situated one block from Liberty State Park’s Hudson-Bergen Light Rail station and less than one mile from Interstate 78, which provides accessibility to the Hudson Waterfront, lower Manhattan and the greater New York MSA. Completed in 2019, the eight-story property features best-in-class construction and unit design, offering a diverse mix of spacious one- and two-bedroom apartments averaging 982 square feet. Units feature Caesarstone countertops, oversized woo