Ingerman Group and Verde Capital have sold 19 East, a 138-unit, mid-rise, luxury apartment community in Bayonne, N.J., for $49.6 million.
JLL Capital Markets advised KABR Group on the acquisition financing and placed the $35 million fixed-rate loan with Kearny Bank.
“This asset represents a tremendous value proposition for renters looking for a new building with best-in-class amenities while also located in a rapidly evolving millennial neighborhood, competitive with the best Hudson County and NYC has to offer,” said Ken Pasternak, CEO and Chairman of KABR Group.
Constructed in 2018, the six-story property offers studios, one- and two-bedroom units featuring gourmet kitchens, hardwood flooring, designer finishes and lighting fixtures, stainless-steel appliances, washers and dryers, walk-in closets, island and breakfast bars and quartz countertops. Community amenities include a fitness center, garage parking, a game room, two furnished outdoor terraces and bu
