Luxury apartments in Hackensack sell for $38.5M

Constructed between 2019 and 2021, 22 Sussex is a luxury apartment building with 88 residences located in Hackensack.

On April 29, The Kislak Co. Inc. announced the recent off-market sale of the property located at 22 Sussex St. for $38.5 million. Vice President Andrew Scheinerman arranged the transaction on behalf of the seller – and developer, 22 Sussex Street Urban Renewal LLC. He also procured the buyer, Lusia Realty Corp.

The deal marks the third in a series of sales Scheinerman has arranged recently, with The VUE (also located in Hackensack) changing hands in an off-market transaction for $36 million and Bella at Bergenfield selling for $22.5 million.

According to a statement from Scheinerman, the acquisition highlights the demand for strong suburban infill developments.”The purchaser sold a large portfolio of properties in New York City where rent control changes in 2019 restricted growth and was immediately attracted to 22 Sussex for its quality of construction, strong tenancy, and ease of management,” he said.

Located downtown in Bergen’s county seat, six-story 22 Sussex is comprised of 22 studio, 51 one-bedroom and 15 two-bedroom units. The average unit size is 883 square feet.

Amenities at the building include private balconies in select units, backlit bathroom vanities, in-unit washers and dryers, assigned private garage parking, a coworking space, a rooftop deck with New York City-skyline views, and more.