Waldwick Station, a 111-unit apartment complex in Waldwick, Bergen County, was acquired by Invel Capital in an off-market transaction for $39 million.
Built in 2017 and located at 41 West Prospect Street, the class-A, multi-family property consists of 110 studio, one-, and two-bedroom units plus a 992-square foot cafe/creperie. Amenities include a modern fitness center, rooftop terrace and covered parking.
Located right next to the Waldwick NJ Transit Station, the commuter-friendly property offers easy access to New York City and destinations across New Jersey. The community is also steps from restaurants and retail in downtown Waldwick.
Managing Principals Ryan Goldstein, Adam Szabo, and Steven Heller represented Invel Capital. Brian Whitmer in partnership with Niko Nicolaou and Ryan Dowd of Cushman & Wakefield led the sale brokerage team. Debt financing was arranged by Michael Klein, Gerard Quinn, and John Cumming of JLL Capital Markets. Vinyl Real Estate Management is the property manager.
The Invel Capital team jointly commented, “We were excited by the opportunity to acquire a best-in-class community in an irreplicable location, within one of the most sought-after markets in the nation. We look forward to continuing Waldwick Station’s legacy as a luxury, transit-oriented community that provides the ideal blend of luxury, unique character, and access to commerce, entertainment, and nature.”
Summit-based Invel Capital, LLC is a privately held real estate firm founded in 2014. They specialize in real estate investment, development, finance, construction management, capital markets and asset management.
