bridgewater flats

530 US-22 e, bridgewater, NJ 08807

a multifamily conversion opportunity

128 units | built / renovated 1998 / 2020

​​​​​​​Berkadia Real Estate Advisors​ is pleased to present the opportunity to acquire Bridgewater Flats​ ​ ​ ​ (“The Property”), a 128-unit, multifamily conversion opportunity, located in Bridgewater, New Jersey. The Property offers a seamless conversion opportunity from hospitality to multifamily.​ Prospective investors benefit from the opportunity to achieve risk-adjusted returns without the full risk profile of ground-up development,​ within one of the most desirable suburban locales in Northern New Jersey.

Property summary


128 (88 market ​ rate units & 40 COAH units)

Year Built / Renovated

1998 / 2020

Average Unit Size

747 SF

Average Market Rate Rent


Average Affordable Rent


Number of Buildings


Number of Stories

Five, 3-story buildings; One, 2-story building

investment highlights

Rare Conversion Opportunity

  • Straightforward conversion to multifamily: kitchens and living spaces already included in all units, and two bathrooms in all two-bedroom units
  • Recent renovations kept interiors up to date with current market preferences ​ ​
  • Comprehensive amenity package in place

Attractive Development Incentives

  • The Property will benefit from a five-year tax abatement upon completion of the conversion
  • Bridgewater Township has agreed to contribute $590,000 toward construction costs ​​​​​​​

​​​​​​​Strategic Location


  • Less than 1 mile from Route 202 & I-287, and within a 10-minute drive of several multi-national pharmaceutical HQ’s
  • $134,201 median income | $691,100 median home value in Bridgewater

​​​​​​​Exceptional Market Fundamentals

  • ​​​​​​​98.6% occupancy rate as of 2Q22
  • 13.0% year-over-year rent growth
  • 4.9% projected five-year average annual rent growth rate

photo gallery

Virtual Tour

one bedroom

two bedroom

Property features

Interior Luxuries

  • Stainless Steel Appliances
  • Granite Countertops
  • Wood-Plank Flooring
  • Modern Cabinetry
  • Carpeted Bedrooms
  • Walk-In Closets​​​​​​​

Community Amenities

  • Modern Clubhouse
  • Fitness Center
  • Business Center
  • Resort-Style Swimming Pool
  • Hot Tub
  • Sport Court
  • Outdoor TV Lounge Area
  • Grilling Stations
  • Fire Pit​​​​​​​


​​​​​​​Premier Accessibility to International Employers

​​​​​​​Bridgewater Flats is located along Route 22 in Bridgewater NJ, less than one mile from Route 202 and I-287, providing convenient access throughout the region. Bridgewater features a significant concentration of pharmaceutical employers, including the World HQ of Amneal and North American Headquarters of Sanofi. Non-Pharma employers within one mile of the property include MetLife and Oracle. Overall, there is 12.5MM SF of office space and 8.9MM SF of retail space within a 5-mile radius surrounding the property.

Contact Us

Investment Sales

Matthew Stefanski

Senior Managing Director

Zachary Pierce

Senior Managing Director

Maura Spellman


Nat Gambuzza

Senior Managing Director

Trevor Fiebel

Senior Director

Kyle Stevenson

Managing Director - Hotels & Hospitality

Mortgage Banking

Jeremy Lynch


Bridgewater flats

530 US-22 E ​ | ​ Bridgewater, NJ 08807

Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada. ​

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