ELIZABETH, NJ —
August 06, 2026 |
By DailyHudson Staff
JLL Capital Markets arranges sale and financing for converted office-to-residential property near George Washington Bridge.
A 132-unit residential complex in Fort Lee has been sold, according to JLL Capital Markets. The property, known as Ridge Pointe, is located at 1 Executive Blvd. and was converted from office to residential use in 2014.
This sale highlights the ongoing demand for large, amenity-rich rental properties in Hudson County, particularly those with views of the Manhattan skyline. The transaction could signal continued investor interest in the region’s housing market.
JLL Capital Markets announced the sale and acquisition financing for Ridge Pointe, representing the buyer, SELA Realty Investments LLC, in both the purchase and securing a floating-rate loan through Balbec Capital LP.
The seven-story building was originally constructed in 1985 and features units averaging over 1,296 square feet, with studio, one-, two-, and three-bedroom floor plans.
“Ridge Pointe’s oversized floor plans create a differentiated living experience that provides families and professionals working from home with substantially more usable space than competing properties in the submarket,” said Mike Oliver, Senior Managing Director at JLL Capital Markets.
Impact: Residents can enjoy more than 20,000 square feet of amenities, including a rooftop lounge, golf simulator, screening room, fitness facility, and children’s playroom. Fort Lee’s demographics, with nearly half of residents being renters and an average household income exceeding $145,000, make it an attractive area for such investments.
What Happens Next: No further details about the sale price or future plans for the property were disclosed. The new owner may consider additional parking delivery as part of a value-add strategy, according to JLL.
The sale reflects a continued trend of converting commercial spaces to residential use, potentially spurring further development in the area.
Source: Jersey Digs
