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High-Rise Luxury Apartment Sells for $23M

HACKENSACK, NJ - The 128-unit Carlyle, on one of this city's prominent thoroughfares, trades for $184,000 per unit.

By Eric Peterson | Updated on August 07, 2008

HACKENSACK, NJ – The Carlyle, a prominent luxury high-rise apartment building in the heart of this Bergen County seat, has been sold for just less than $23.6 million. For the 13-story, 128-unit complex, that sale price factors out to just shy of the $184,000 mark.

Brokers from the Livingston, NJ-based Gebroe-Hammer Associates orchestrated the transaction for the high-profile property. Managing director Ken Uranowitz, VP Greg Pine and sales associate Steven Follman represented seller Hekemian & Co., a locally based company that is a major owner of multifamily, retail and mixed-use properties in Northern New Jersey and elsewhere in a portfolio valued in the $1-billion range. The trio of brokers also procured the unidentified buyer, which was described only as a private New Jersey-based investment group.

“The Carlyle is at the center of Hackensack’s best residential neighborhood,” says Uranowitz, noting that its 380 Prospect Ave. location is surrounded by a mix of single-family, mid-rise and high-rise residential buildings, commercial offices and the well-known Hackensack University Medical Center and related medical offices.

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