Kushner closes on $100 million deal for Hackensack apartments

Kushner Cos. has acquired a two-building, 360-unit apartment property in Hackensack for a reported $100 million, marking its latest multifamily purchase in New Jersey in recent years.

Brokers with HFF on Wednesday announced the sale of the property, located at 300 and 310 Prospect Ave., after marketing it on behalf of the seller. Known as Prospect Place, the property includes an 18-story high-rise with 157 units and a four-story midrise building with 203 units.

HFF did not disclose the sale price, but multiple reports said the property traded for $100 million. Published reports also identified Greystar as the seller.

The HFF team included Senior Managing Director Jose Cruz, Managing Director Kevin O’Hearn, Senior Directors Michael Oliver and Stephen Simonelli and Director Marc Duval.

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Article from Real Estate NJ
By Joshua Burd

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