99 Gorge Road
Update
04/04/22
Luxury Edgewater Residential Tower Trades for $130M
A 25-story residential tower at 99 Gorge Road in Edgewater, New Jersey has just been sold for $130 million. Known as "Riello", the structure was purchased jointly by Skylight Real Estate Partners and PCCP from the previous owner, , in a deal brokered by JLL.
Constructed in 2004, the building contains luxury apartment units, available in one, two, and three-bedroom configurations. It also offers several tenant amenities, including a fitness center, an outdoor pool, a steam room, a sauna, and an enclosed parking area.
Riello is situated on an elevation that overlooks the Hudson River, with a great view of New York City on the opposite bank. It is also located conveniently near the NY Waterway ferry, providing residents with quick commutes to Manhattan.
is parting ways with the property after 8-years of ownership. Having purchased Riello for $120.25 million back in February of 2014, the company is also walking away with a nice profit from this sale.
