CBRE announced the $14.9 million sale of Lexington Riverview, a premier Class A multifamily community located in Fair Lawn.
The transaction was spearheaded by the CBRE Institutional Properties team—comprising Jeffrey Dunne, Stuart MacKenzie, Eric Apfel, Travis Langer and Eric Greenberg—in partnership with Charles Berger of CBRE Investment Properties. CBRE exclusively represented the seller, while David Ferber of Matthews represented the buyer.
Completed in 2021, Lexington Riverview is a boutique luxury apartment community featuring 43 oversized market-rate units with contemporary finishes. Situated directly along the Passaic River, the property offers scenic waterfront views while remaining just one mile from NJ Transit’s Radburn Train Station, which provides direct rail access to New York City in approximately 45 minutes.
Residents also enjoy a competitive amenity package, including a modern fitness center, a resident lounge, and covered on-site parking.
“We are pleased to have represented the seller in the disposition of this unique asset,” MacKenzie said. “The property benefits from its location in Fair Lawn featuring excellent schools while providing easy access to New York and the surrounding area.”
Charles Berger added, “We generated significant interest in the asset by combining CBRE’s institutional and private capital platforms. We’re thrilled with the outcome, especially given the challenges in today’s market driven by interest rate volatility.”
