A boutique 12-story, 194-unit apartment community in Fort Lee with sweeping views of the Hudson River and New York City has been sold. Twenty50 is perched on the Palisades at 2050 Central Road, across from Fort Lee Historical Park. The buyer is said to be a private investor, and the sale price was not disclosed.
BlueGate Partners and JLL Capital Markets worked together to facilitate the transaction on behalf of the seller. They also identified the buyer. BlueGate provided acquisition financing guidance to the buyer for the Fort Lee property. The BlueGate Partners team was led by Mark DeLillo, Marc Schulder, and Lee Spiegleman. JLL Capital Markets’ Investment Sales and Advisory team was headed up by Jose Cruz, Steve Simonelli, Mike Oliver, and Elizabeth DeVesty.
Twenty50 was completed in 2013 and features a mix of one- and two-bedroom homes averaging 986 square feet. All units include stone countertops, hardwood floors, gas stoves, stainless steel appliances, walk-in closets, and private patios or balconies. The building is pet-friendly and features a heated outdoor pool, a coworking area, a fitness center, 224 parking spaces, a grilling area, and a 24-hour concierge. The community is 97.4% occupied.
Twenty50 affords residents easy walking access to Fort Lee’s abundant stores, restaurants, and entertainment. The town’s schools are rated very highly. The residential community is close to multiple transit options, including NY Waterway and NJ Transit, and one block from the George Washington Bridge.
