Kushner Cos. bought Prospect Place, a 360-unit community in Hackensack, New Jersey, for $102.5m. The property includes an 18-story and a four-story building, featuring 157 units and 203 units, respectively. Prospect Place was 96 percent leased at the time of the sale. Holliday Fenoglio Fowler exclusively marketed the property on behalf of the seller, Greystar, which traded free and clear of existing debt. “Prospect Place represents the right mix of infill northern New Jersey multifamily product with renovation upside,” said Jose Cruz, senior managing director at HFF. “Its Bergen County location with direct access to New York City attracts a wide array of tenants.”
