(Read more on the multifamily market.)
EDGEWATER, NJ-Boston-based General Investment & Development Cos. acquired a 222-unit luxury apartment community known as Mariner's Waterfront located on the banks of the Hudson River here. Mariner's Waterfront consists of a 44-unit townhome component and a 17-story, 178-unit apartment building. Details of the transaction were not disclosed.
GID plans to rename the townhomes Windsor at Mariners Cove and the apartments Windsor at Mariners Tower. The townhomes were completed in 1997, with the apartment building opening in 2000.
The property is located in between the George Washington Bridge and the Lincoln Tunnel. The site also has easy access to mass transportation, including bus service, ferry service and access to the Hudson-Bergen Light Rail, which delivers passengers to PATH and NJ Transit trains.
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