Colliers International is pleased to present the fee simple sale of 400 Broadway located in Paterson, Passaic County, New Jersey. 400 Broadway is an Age-Restricted, Section 8 certified multifamily asset comprised of 50 units: 10 studio units, 35 one-bedroom units, four two (2) bedroom units, and one (1) three-bedroom unit designated for the superintendent. OFFERING HIGHLIGHTS . Performing Asset - The Property has a 20-year history of 98% occupancy. The asset provides for a fully stabilized, risk-averse investment opportunity with demand to keep occupancy levels at 100%, less minimal absorption and vacancy turnover time. Opportunity to Increase Rents – Over the past two (2) years, rental rates have not been increased. Paterson has a 5.0% cap on rental rate increases per year. Rental rate increases require a Request for Increase Form as part of the tenant’s annual re-certification. Excellent Market Fundamentals - The Paterson Multifamily Market has demonstrated a positive trajectory with average occupancy at 98.4%. The submarket has experienced a 290-basis point tightening in vacancy (4.5% to 1.6%) over the last three (3) years. Nearby Public Transportation – The Property is conveniently located 0.1 miles from a local bus stop with NJ Transit line 171, 746, 748, 770 (providing service to the George Washington Bridge, Hackensack, Paramus, Garden State Plaza Mall, and Ridgewood); 0.4 miles from the Broadway Bus Terminal; and 0.7 miles from the Paterson Station, which is part of NJ Transit’s Main/Bergen-Port Jervis Line with service to Secaucus Junction and Hoboken; both of with provide transfer service to Manhattan. JACKLENE CHESLER MATTHEW BROWN FRANK SUMMERS Executive Managing Director Managing Director Senior Financial Analyst Salesperson Salesperson 732 807 0405 973 299 3083 973 299 3075 [email protected] [email protected] [email protected] No representation is made to the accuracy of the information furnished herein and same is submitted subject to errors, omission, change of prices, rental, or other conditions, prior sale, lease, and/or withdrawal without notice. The furnishing of this information shall not be deemed a hiring.. JACKLENE CHESLER MATTHEW BROWN FRANK SUMMERS Executive Managing Director Managing Director Senior Financial Analyst Salesperson Salesperson 732 807 0405 973 299 3083 973 299 3075 [email protected] [email protected] [email protected] No representation is made to the accuracy of the information furnished herein and same is submitted subject to errors, omission, change of prices, rental, or other conditions, prior sale, lease, and/or withdrawal without notice. The furnishing of this information shall not be deemed a hiring.. .