The Waverton, a riverfront development completed in 2022, changed hands for $47.8 million. Perched along the Hackensack River at 1631 Paterson Plank Road in Secaucus, the 116-unit complex benefits from a 30-year PILOT program. The community features roughly 20% affordable apartments.
The transaction was facilitated by CBRE’s Institutional Properties team of Jeffrey Dunne, Stuart MacKenzie, Eric Apfel, and Travis Langer. CBRE worked on behalf of the seller, a joint venture with Canoe Brook as a minority partner. As part of the deal, Canoe Brook will keep their share of ownership in the Secaucus property.
“We are thrilled to have represented Canoe Brook and Woodmont Properties on the sale of The Waverton,” commented CBRE’s Vice Chairman Dunne. “This is a high-quality asset with extraordinary waterfront views, while the expansive amenity package rivals that of larger Class A properties in the market.”
The Waverton’s 116 homes come with airy open layouts, stainless steel appliances, in-unit washer/dryers, quartz countertops, and additional luxury touches. Residents enjoy a modern fitness center with a yoga studio, a lounge with billiards and shuffleboard, coworking spaces, conference rooms, and an outdoor space with fire pits, grills, and a large outdoor television. Active residents are steps away from the Secaucus Greenway. Commuters enjoy easy access to NJ Route 3 and a quick NJ Transit bus ride into Manhattan.
