A new five-story apartment building at 263 Hackensack Street in East Rutherford has begun leasing its 86 units, offering one- and two-bedroom homes with rents starting at $3,250 a month alongside rooftop views, a pet spa, and up to two months of free rent for qualified renters. Parker East is available for immediate occupancy, giving commuters a fresh option just steps from the borough's train line.
The building sits 0.2 miles from the Rutherford NJ Transit station, putting rail connections into Hoboken and Manhattan within easy walking distance, according to Connect CRE. That transit-adjacent location is central to the pitch from developer Vango Development, which has now built three multi-family projects in the Rutherford area, following its earlier complexes The Parker at 106 Park Avenue and Parker 118 at 118 Park Avenue. As NJ.com reports, the five-story building includes oversized windows, high ceilings, and luxury plank flooring throughout, along with smart-lock entry systems and custom closets in each unit.
Rooftop Deck and Resident Amenities
Parker East's amenity list leans heavily into shared outdoor and social space, including a rooftop sun deck with a fire pit that offers views of downtown Rutherford. Residents also have access to a fitness center, a resident lounge, private work pods, package lockers, bike storage, and a pet spa. The property includes 114 parking spaces that are mostly enclosed, plus electric vehicle charging stations, Wi-Fi in common areas, and a ButterflyMX intercom system, along with on-site management and maintenance.
Inside individual units, kitchens feature stainless-steel appliances, soft-close cabinets, Kohler fixtures, and quartz countertops, while bathrooms include contemporary cabinets with matching quartz finishes. Select residences also come with private balconies and full-size washers and dryers. MHS Architecture designed the building, the Childs Dreyfus Group completed the interior design, and Arterial Landscaping & Design handled the landscape architecture, per the same NJ.com report. The Taylor Lucyk Group serves as the exclusive leasing agent and is offering private tours of furnished model homes and amenities.
Ground-Floor Retail and Construction Financing
Beyond its residential units, the building includes roughly 1,100 square feet of ground-floor retail space anchoring the corner of Hackensack Street and Winter Place, according to Jersey Digs. Construction was financed through a $25 million loan from ConnectOne Bank that closed in January 2025, enabling groundbreaking on what had been a vacant lot, the outlet reported.
Rent Incentives and Local Pricing Context
To fill units quickly, Parker East is offering a tiered concession structure: one month free on a 13-month lease, two months free on a 26-month lease, and an additional Look & Lease special worth up to $1,500 for qualified applicants upon move-in, according to leasing terms published by the property itself. The building's $3,250 starting rate sits above East Rutherford's municipality-wide average residential rent of $3,040 recorded in July, per Zillow figures cited by Connect CRE.
That pricing lands against a backdrop of rising costs across the county. Median rents across Bergen County reached $2,916 a month by mid-2026, a 4.1% year-over-year increase that RentalCalcs attributes to high mortgage rates keeping would-be homebuyers locked into the rental market. Median single-family home prices in the county now exceed $791,000, according to the same analysis.
Affordable Units Set Aside Through State Lottery
Not all of Parker East's units are priced at market rate. The building designated 13 of its 86 rental units as affordable housing for low- and moderate-income households, with an applicant lottery conducted on August 26, according to Piazza & Associates, the firm managing the state-regulated process. Income eligibility guidelines cap annual gross household income at $45,350 for single applicants and $64,750 for four-person households under New Jersey Housing Region 1 standards, which cover Bergen, Hudson, Passaic, and Sussex counties.
The income-restricted units span studio to three-bedroom floor plans, satisfying New Jersey's inclusionary zoning and affordable housing obligations alongside the market-rate inventory. East Rutherford's population has grown to 10,709 residents in 2026, a 7.15% increase since the 2020 Census, according to World Population Review — growth that helps explain continued demand for new housing stock near the borough's transit hub. Prospective renters interested in Parker East's remaining units can reach the leasing office at 201-971-9633.
