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Robert Vecsler And Lawrence B. Benenson Acquire 314-Unit Multifamily Asset In Cliffside Park For $165M

Property Image
SOLD
$165,000,000

New Jersey

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MultiFamily
Sold 10/27/2025
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Property Image
SOLD

Robert Vecsler And Lawrence B. Benenson Acquire 314-Unit Multifamily Asset In Cliffside Park For $165M

695 Anderson Avenue

See Similar Deals
MultiFamily
Sold 10/27/2025
the dealplayerscompscontact
Contact now

Summary

NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale

A 314-unit multifamily asset located at 695 Anderson Ave in Cliffside Park was sold for $165 million. The property was priced at approximately $525,478 per unit. It is noted that the asset was 95% occupied at the time of sale, reflecting a 5.6% cap rate and resolving a $130 million CMBS loan.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $165,000,000
  • Units: 314
  • Price Per Unit: $525,478
  • Buyer: Robert Vecsler - Hyperion Group; Lawrence B. Benenson - Benenson Capital
  • Seller: Lionstone Capital & Demetrakis family

The transaction saw Robert Vecsler representing Hyperion Group and Lawrence B. Benenson representing Benenson Capital Partners as they acquired the property from Lionstone Capital and the Demetrakis family, marking HyperionMFP Partners' first investment in the multifamily sector.

Players

Robert Vecsler
Hyperion Group
Robert Vecsler
2 deals$273M volume
BUYER
BP
Benenson Capital Partners
BUYER
Hyperion Group
Hyperion Group
BUYER
LC
Lionstone Capital
SELLER

Details

SOLD
IMAGE: Robert Vecsler & Lawrence B. Benenson DATE: 10/27/2025 ADDRESS: 695 Anderson Ave MARKET: Cliffside Park ASSET TYPE: Multifamily BUYER: Robert Vecsler - Hyperion Group; Lawrence B. Benenson - Benenson Capital SELLER: Lionstone Capital & Demetrakis family SALE PRICE: $165,000,000 UNITS: 314 ~ PPU: $525,478 NOTE: Hyperion Group and Benenson Capital Partners acquired The Centre, a 314-unit apartment complex in Cliffside Park, N.J., for $165 million, or $525,377 per unit, from Lionstone Capital and the Demetrakis family. The deal, marking HyperionMFP Partners’ first investment, resolves a $130 million CMBS loan and reflects a 5.6% cap rate on the property, which was 95% occupied.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$8,800,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$586,210.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$782,184.18
Annual Debt Service$9,386,210.15