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NYC Developer Buys Hackensack Building For $36M

A New York City developer has bought a luxury apartment building in Hackensack for $36 million, TheRealDeal reports.

The Vue at Hackensack

The Vue at Hackensack

Photo Credit: Google Maps (Street View)

The VUE Hackensack on Polifly Road is now owned by Sutton Equity, whose executives claim the off-market purchase was motivated by New York City's recent rent control increase, according to the outlet.

The building has 78 units, most of which are two bedrooms in the 1,200 square feet range, Apartments.com says. The average monthly rent is $2,650.

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