Russo Development, Hampshire Cos., Fourth Edition to Develop 271-Unit Apartment Building in Hackensack, New Jersey
HACKENSACK, N.J. — A joint venture between Russo Development, Hampshire Cos. and Fourth Edition will develop Print House by Vermella, a 271-unit apartment building in Hackensack, a northwestern suburb of New York City. Located at 150 River St., Print House by Vermella will feature a mix of studio, one- and two-bedroom floor plans. The property will be located near downtown Hackensack and the Bergen County Courthouse, offering quick access to the New Jersey Transit Hackensack Bus terminal, Interstate 80 and two other public transit stations. Amenities will include a resident lounge, fitness center and access to a riverwalk along the Hackensack River. Future construction phases will include an additional 382 residential units and approximately 30,000 square feet of commercial space. An undisclosed national bank provided a $48.7 million construction loan that carried a 60-month term and a floating interest rate to the joint venture. Thomas Didio, Jon Mikula and Michael Klein of JLL arranged the loan. The construction schedule was undisclosed.