16 Deerpark Drive, Monmouth Junction, NJ
AVIA Residences on Deerpark
25 Connector Road, Westborough, MA
AVIA RESIDENCES ON RESEARCH
900 Mays Landing Road, Somers Point, NJ
AVIA RESIDENCES ON MAYS LANDING
Berkadia is pleased to exclusively present the AVIA Northeast 3 Portfolio, a collection of three hotel conversion opportunities located in the Northeast: Westborough, MA; Monmouth Junction, NJ; and Somers Point, NJ. Currently operating as AVIA Residences—furnished, extended-stay hotels— the portfolio consists of 437 existing keys across the three properties, with conversion plans approved for 425 multifamily units, including 86 affordable units.
The AVIA Northeast 3 Portfolio represents a unique opportunity to transform well-located AVIA Residences into modern multifamily communities. This approach addresses strong regional housing demand while leveraging existing infrastructure to reduce costs and timelines.
The Offering
AVIA Residences on Mays Landing
Site: 4.42 acres near the Garden State Parkway.
Current Use: Hotel - 120 keys across 15 buildings.
Proposed Conversion: 116 units (56 studios, 29 one-bedroom, 27 two-bedroom, 4 three-bedroom), including seven handicap-accessible units and 18 affordable units.
AVIA Residences on Deerpark
Site: 8.30 acres near US Highway 1.
Current Use: Hotel - 208 keys across 26 buildings.
Proposed Conversion: 200 units (101 studios, 39 one-bedroom, 52 two-bedroom, 8 three-bedroom), including six handicap-accessible units and 40 affordable units.
Tax PILOT: 30-year agreement with escalating percentages of Annual Gross Revenue.
AVIA Residences on Research
Site: 12.05 acres in the Highway Business (BA) Zoning District.
Current Use: Hotel - 109 keys across seven buildings.
Proposed Conversion: 109 units (85 one-bedroom, 24 two-bedroom), including six handicap-accessible units and 28 affordable units.
Parking: 134 spaces, including 20 EV-ready spaces and bike racks for 18 bicycles.
investment highlights
THE PORTFOLIO
16 Deerpark Drive, Monmouth Junction, NJ
AVIA Residences on Deerpark
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.
© 2025 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
Contact us
Trevor Fiebel
Senior Director
NJ RE Salesperson Lic #1431448
862.309.5615
trevor.fiebel@berkadia.com
Nat Gambuzza
Senior Managing Director NJ Principal Broker Lic #0213988
862.309.5612
nat.gambuzza@berkadia.com
Chris Phaneuf
Senior Managing Director
MA Principal Broker Lic #9032841
617.851.1242
chris.phaneuf@berkadia.com
Adam Dunn
Managing Director
MA RE Broker Lic #9553106 617.595.9493
adam.dunn@berkadia.com
The Portfolio
Contact
Doc Center
Privacy
Terms of Use
The Avalon
AVIA NORTHEAST 3 PORTFOLIO
Hotel-to-Residential Conversion
Boston Office
Berkadia Real Estate Advisors LLC MA RE Lic #423465 125 High Street, Suite 1712 Boston, MA 0211
New Jersey Office
Berkadia Real Estate Advisors LLC
NJ RE Lic #2295894
17 Headquarters Plaza West Tower, 8th Floor Morristown, NJ 07960
Visit Document Center
Visit Document Center
Visit Document Center
Visit Document Center
25 Connector Road, Westborough, MA
16 Deerpark Drive, Monmouth Junction, NJ
900 Mays Landing Road, Somers Point, NJ
900 Mays Landing Road, Somers Point, NJ
AVIA RESIDENCES ON MAYS LANDING
25 Connector Road, Westborough, MA
AVIA RESIDENCES ON RESEARCH
Visit Document Center
Visit Document Center
The Portfolio
Contact
Terms of Use
Privacy
Doc Center
