BOGOTA, N.J. — River Development has completed the disposition of The River Club, a proposed multifamily development site located on the former Hess Oil Terminal and an adjacent parcel that was the former Sifford Pontiac site in Bogota. Jonathan Stein of PCD Capital acquired the development for $17 million. Situated on 13 acres, the proposed development will feature five multifamily buildings including 421 apartments, a clubhouse, secured parking, resort-style pool, a Riverwalk and retail space. Construction is slated to begin this spring. Kathy Anderson of Progress Capital brokered the transaction for the seller. Mike Bruno of Giordano, Halleran, Ciesla provided legal representation for River Development, while Chris Otteau of Otteau Realty Advisors provided legal counsel for the buyer in the deal.
Slated to begin construction this spring, The River Club in Bogota, N.J., will feature 421 apartments, a clubhouse, a resort-style pool, secured parking, a Riverwalk and retail space.
River Development Sells Proposed Multifamily Development Site in Bogota, New Jersey, for $17M
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