Waterton Completes $6M Renovation of 225-Unit Multifamily Property in New Jersey

EDGEWATER, N.J. — Waterton has completed the $6 million renovation and rebranding of The St. Moritz, a 225-unit apartment tower in Edgewater, just across the Hudson River from Manhattan. Waterton operates the community, which received a new outdoor pool and spa with private cabanas, grilling stations and fire pit, as well as an updated lobby, business center and fitness facility featuring all-new exercise equipment. Additional enhancements were made to the parking garage and façade of the building, which Barings Real Estate Advisers owns on behalf of an institutional investor. The 25-story apartment tower was built in 2004 and offers a mix of one-, two-, three- and four-bedroom floor plans ranging in size from 780 to more than 4,000 square feet.