Real estate firm CBRE announced the successful sale of a prime multifamily development site located at 6903 Adams Street in Guttenberg. Acquired by an undisclosed private developer from AIRN Management, the transaction marks the final piece in a series of land sales for the seller.
The deal represents the sixth development site sold by CBRE on behalf of AIRN Management, officially completing the disposition of the client’s entire New Jersey land portfolio. The marketing campaign for the Guttenberg property was led by CBRE’s Fahri Ozturk, Richard Gatto, Zach McHale and Jeffrey Babikian.
Situated directly across the Hudson River from Manhattan, the Adams Street parcel drew significant attention from investors looking to tap into the thriving New Jersey Gold Coast market.
“The strong interest in this opportunity reflects continued investor demand for prime, transit-oriented development sites along the New Jersey Gold Coast,” Ozturk said. “With its exceptional location and connectivity to Manhattan, this site presented an ideal opportunity for a developer seeking long-term growth. We are proud to have concluded this final land sale in New Jersey for our client.”
The property’s strategic location offers future residents immediate access to major waterfront and urban hubs, including Edgewater, Port Imperial, Lincoln Harbor, Hoboken, and Jersey City. Commuters benefit from NJ Transit bus service operating directly adjacent to the site.
Additionally, the development is positioned just one block away from Bergenline Avenue—New Jersey’s longest commercial avenue—which boasts a bustling local economy featuring more than 300 retail stores and restaurants.
