Luxury Apartment Building Sells for $38.5M in Hackensack

22 Sussex Hackensack Nj
22 Sussex in Hackensack. Image courtesy of The Kislak Company.

A new luxury apartment building in Hackensack, Bergen County, New Jersey, was recently sold off-market for $38,500,000.

Located at 22 Sussex Street, the six-story brick building encompasses 88 units with an average unit size of 883 square feet. 22 Sussex features 22 studios, 51 one-bedroom units, and 15 two-bedroom units. Built between 2019 and 2020, the building offers community amenities such as assigned private garage parking, a fitness center, a secure package receiving room, a co-working space, and a rooftop deck.

The Kislak Company Inc.’s vice president Andrew Scheinerman organized the sale on behalf of the seller-developer, 22 Sussex Street Urban Renewal, LLC, and procured the buyer, Lusia Realty Corp.

Mr. Scheinerman commented, “This acquisition illustrates the incredible demand for strong suburban infill developments. The purchaser sold a large portfolio of properties in New York City where rent control changes in 2019 restricted growth and was immediately attracted to 22 Sussex for its quality of construction, strong tenancy, and ease of management.”


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