AMS Acquisitions Buys 85-Unit Silk Lofts in Bayonne, New Jersey, for $32.1M

BAYONNE, N.J. — AMS Acquisitions has purchased Silk Lofts, a multifamily property located at 154 Avenue E in Bayonne, for $32.1 million. The former Maidenform factory was redeveloped into a residential loft building in 2009 by Doug Stern of Stern Capital and Leon Cohen (CSR Group). The five-story building features 85 studio, one- and two-bedroom apartments with modern finishes, a variety of amenities and views of the New York City skyline and Bayonne Bridge. AMS Acquisitions plans to add an additional 125 apartments to the site and construct at least two new buildings on the parking lots that surround the property. Steven Matovski of Redwood Realty Advisors represented the undisclosed seller, while Matovski and Jeremy Wernick, also of Redwood, co-represented the buyer in the deal.