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Cushman & Wakefield Arranges $51.75M Sale of The Sterling

Jayden Lapin-Tatman • 7/11/2022
Fort Lee, NJ – Cushman & Wakefield announced today that the real estate services firm has arranged the sale of The Sterling, a 128-unit multifamily property located at 2055 Center Avenue in Fort Lee. The final sale price was $51,750,000. 

Cushman & Wakefield’s Niko Nicolaou, Brian Whitmer, Ryan Dowd and Will Gerlin represented the seller, and procured the buyer, Blue Diamond Equities, who pre-empted the marketing process. 
“Record low supply in Manhattan has caused tenants to flock toward one of New Jersey's most coveted neighborhoods, the Gold Coast,” said Nicolaou. “The Sterling is ideally situated at the intersection of Interstate 95 and Routes 46 and 5, providing swift access to Manhattan, Hoboken and Jersey City, making the property well-positioned to capture continued renter demand.” 
The Sterling is a 128-unit high-rise multifamily asset consisting of 14 studio units, 56 one-bedroom units, 56 two-bedroom units and two four-bedroom units. Amenities include an updated lobby, granite countertops, stainless steel appliances, laundry facilities, pool/sundeck and ample onsite parking. 
About Cushman & Wakefield 

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake External Link on Twitter.

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