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David Lukes Of SITE Centers Sells Mixed-Use Property In Edgewater For $53.2M

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SOLD
$53,200,000

New Jersey

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Mixed-use76,525 SF
Sold 09/30/2025
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Property Image
SOLD

David Lukes Of SITE Centers Sells Mixed-Use Property In Edgewater For $53.2M

905 River Road

See Similar Deals
Mixed-use76,525 SF
Sold 09/30/2025
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:Mixed-use
Price Per Square Foot:$695
Total Square Footage:76,525 SF
Transaction Type:Sale

A mixed-use property located at 905 River Road in Edgewater, N.J., was sold for $53.2 million. The asset consists of 76,525 square feet and includes 64 residential units. The price per unit is $831,250, while the price per square foot is $695. The property also features a retail component that is currently 98% leased and apartments that are 94% occupied.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $53,200,000
  • Units: 64
  • Square Footage: 76,525
  • Price Per Unit: $831,250
  • Price Per Square Foot: $695
  • Seller: David Lukes - SITE Centers
  • Broker: JLL

David Lukes represented SITE Centers in this transaction. JLL Capital Markets facilitated the sale, bringing their expertise to the deal. The property's retail portion has maintained a high occupancy rate, indicative of its market presence.

Players

JLL
JLL
BROKERAGE
David Lukes
SITE Centers
David Lukes
28 deals$1.6B volume
SELLER
SITE Centers
SITE Centers
SELLER

Details

SOLD
IMAGE: David Lukes DATE: 09/30/2025 ADDRESS: 905 River Road MARKET: Edgewater ASSET TYPE: Mixed-use SELLER: David Lukes - SITE Centers (@SiteCenters) BROKER: JLL (@JLL) SALE PRICE: $53,200,000 UNITS: 64 ~ PPU: $831,250 SF: 76,525 ~ PPSF: $695 NOTE: Site Centers Corp. sold Edgewater Towne Center, a 76,525-square-foot retail and 64-unit apartment property in Edgewater, N.J., for $53.2 million. JLL Capital Markets arranged the deal, with retail 98% leased and apartments 94% occupied.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

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Cap Rate

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Cash Flow (Annual)-$189,008.37
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