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Paterson | 85 Properties | 1,528 Units 83 Multifamily Properties in Multiple Locations
Investment Highlights
- Attractive assumable financing
- Unit mixes are heavily concentrated in one- and two-bedroom apartments
- Unit mixes are heavily concentrated in one- and two-bedroom apartments
- Many newly constructed or extensively renovated buildings
- Strong in-place operations with approximately 95.3% occupancy and an average monthly rent exceeding $2,100
- Select newly constructed assets benefit from long-term tax abatements, including 30-year abatements commencing in 2019 and beyond
Executive Summary
Rare opportunity to acquire a large-scale, institutionally operated multifamily portfolio comprised of 85 buildings and 1,528 units throughout Paterson, New Jersey (Properties may be purchased together or individually, subject to assumable individual or cross-collateralized financing.)
Portfolio consists of newly constructed and substantially renovated multifamily assets completed between 2018 and 2025
Select newly constructed assets benefit from long-term tax abatements, including 30-year abatements commencing in 2019 and beyond, significantly enhancing long-term cash flow and investment stability.
The portfolio features attractive assumable financing across all properties with a combination of long-term fixed-rate debt structures
Strong in-place operations with approximately 95.3% occupancy and an average monthly rent exceeding $2,100,
Significant long-term rent growth potential supported by Paterson’s affordability advantage relative to nearby Hudson, Bergen, and Essex County markets, while maintaining convenient access to Manhattan employment centers.
Portfolio consists of newly constructed and substantially renovated multifamily assets completed between 2018 and 2025
Select newly constructed assets benefit from long-term tax abatements, including 30-year abatements commencing in 2019 and beyond, significantly enhancing long-term cash flow and investment stability.
The portfolio features attractive assumable financing across all properties with a combination of long-term fixed-rate debt structures
Strong in-place operations with approximately 95.3% occupancy and an average monthly rent exceeding $2,100,
Significant long-term rent growth potential supported by Paterson’s affordability advantage relative to nearby Hudson, Bergen, and Essex County markets, while maintaining convenient access to Manhattan employment centers.
Property Facts
| Sale Type | Investment | Individually For Sale | 1 |
| Status | Active | Total Building Size | 1,433,599 SF |
| Number of Properties | 83 | Total Land Area | 44.44 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 83 |
| Individually For Sale | 1 |
| Total Building Size | 1,433,599 SF |
| Total Land Area | 44.44 AC |
Properties
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