Cushman & Wakefield Arranges $131M Sale of Apartment Building in West Orange, New Jersey

WEST ORANGE, N.J. — Cushman & Wakefield has arranged the $131 million sale of Edison Lofts, a 334-unit apartment building in West Orange, located in Northern New Jersey’s Essex County. Edison Lofts comprises two buildings: a 300-unit conversion of the historic Thomas Edison Battery Building and a 34-unit ground-up building known as The Mews at Edison Lofts. The property, which was 95 percent occupied at the time of sale, offers amenities such as a fitness center, indoor pool, resident lounges and outdoor gathering spaces, as well as 19,000 square feet of retail space. Niko Nicolaou, Ryan Dowd, J.P. Hohl, Michael Guerra, Kelly Kellett and Alexandria Russo Ebers of Cushman & Wakefield represented the seller, a partnership led by Prism Partners, in the transaction and procured the buyer, Sym Investments. John Alascio, Brad Domenico and Chuck Kohaut, also with Cushman & Wakefield, arranged a $91.7 million acquisition loan through New York Life in conjunction with the sale.