In a transaction defined by its high-level technical difficulty, Hudson Atlantic Realty has announced the successful sale of Senior Horizons of Bayonne, a 59-unit affordable senior housing community located at 74 Lexington Avenue.
The deal, announced on April 16, 2026, by Adam Zweibel, President of Hudson Atlantic Realty and Zweibel Multifamily Group, serves as a benchmark for the complexity involved in modern Low-Income Housing Tax Credit (LIHTC) rehabilitation projects.
The sale was far from a standard real estate transaction. Because the property is a LIHTC rehab project that was placed in service in 2022, it carried a massive burden of overlapping legal and financial restrictions.
To complete the closing, the firm had to navigate:
- NJHMFA Regulatory Agreements: Binding the property to affordable housing standards through 2047.
- NJDCA and Hudson County HOME Agreements: Additional layers of oversight extending into the 2040s.
- Stringent Income Tiers: Mandatory unit allocations for households earning between 40% and 60% of the Area Median Gross Income (AMGI).
- Tax Incentives: A Payment in Lieu of Taxes (PILOT) agreement with the City of Bayonne.
Given the thousands of pages of documentation involved—including multiple public financing layers and a unique solar photovoltaic loan repayable via Solar Renewable Energy Certificates (SRECs)—Zweibel utilized a modern approach to bridge the gap.
“Closing this deal required mastering thousands of pages of regulatory paperwork,” Adam Zweibel said. “By leveraging advanced AI tools alongside deep industry expertise, we were able to efficiently analyze, organize, and resolve the intricate layers of documentation and financing to successfully complete the transaction.”
The property’s financial structure was particularly dense, featuring a first mortgage from the NJDCA Neighborhood Preservation Balance Housing Program and a second from Hudson County. A non-interest-bearing solar loan from the NJHMFA added an extra layer of operational requirement, as it is tied directly to the sale of renewable energy credits.
The successful closing reinforces Hudson Atlantic Realty’s position as a specialist in complex multifamily transactions. By untangling the “regulatory web” of Senior Horizons, the firm has ensured the continued stability of critical affordable housing for seniors in the Bayonne community.
