New Jersey

Woodmont Properties Sells Northern New Jersey Apartment Complex for $42.9M

by Taylor Williams August 4, 2025

INDEPENDENCE TOWNSHIP, N.J. — Locally based owner-operator Woodmont Properties has sold Woodmont Liberty Apartments, a 120-unit multifamily complex in Independence Township, about 60 miles west of New York City. Completed in 2023 and fully stabilized at the time of sale, the property offers one- and two-bedroom units that are furnished with custom-designed kitchens, walk-in closets, keyless entry mechanisms, individual washers and dryers and private balconies/patios. Amenities include a pool, outdoor grilling and dining areas, a fitness center, game room, conference center, walking trails and a dog park. Steve Tragash, Greg Pine, Eli Herskowitz and Angela Melillo of Sage Investment Real Estate Advisors represented Woodmont and the undisclosed buyer in the transaction.

August 4, 2025

Acquisitions Industrial New Jersey Northeast

NAI Mertz Negotiates $6.4M Sale of Industrial Building in Somerdale, New Jersey

by Taylor Williams August 1, 2025

SOMERDALE, N.J. — NAI Mertz has negotiated the $6.4 million sale of a 44,055-square-foot industrial building in Somerdale, located outside of Philadelphia in Southern New Jersey. According to LoopNet Inc., the building at 900 Kennedy Blvd. was originally constructed in 1980 and features a clear height of 12 feet and five loading docks. Scott Mertz of NAI Mertz represented the buyer, plumbing and HVAC products distributor F.W. Webb, in the transaction. Jonathan Klear, also with NAI Mertz, represented the seller, locally based investment firm Faropoint.

August 1, 2025

Development Loans Multifamily New Jersey Northeast Top Stories

JLL Arranges $255M Loan for Refinancing of High-Rise Apartment Building in Jersey City

by Abby Cox August 1, 2025

JERSEY CITY, N.J. — JLL has arranged a $255 million loan for the refinancing of Journal Squared III, a newly constructed, 58-story multifamily apartment building in the Journal Square neighborhood of Jersey City. The borrower was a joint venture between Kushner Real Estate Group (KRE) and National Real Estate Advisors. Located at 595 Pavonia Ave., adjacent to the Journal Square PATH station, Journal Squared III is the third and final tower in the $900 million Journal Squared mixed-use development, which has a combined 2.3 million square feet and 1,840 residential units, according to Wikipedia. A decade in the making, construction of Phase I of Journal Squared began in 2014. Journal Squared II, which rises 68 stories and houses 538 units, opened in summer 2021. Construction of Journal Squared III topped out in May 2023. Completed in 2024, Journal Squared III features 598 luxury apartment units with a mix of studio, one-, two- and three-bedroom floor plans averaging 719 square feet. The development also offers 100,000 square feet of amenity space across the three buildings, such as a boxing ring, multiple fitness centers, recording studio, theater and a variety of coworking spaces and resident lounges that serve as an extension of …

August 1, 2025

Development Loans Multifamily New Jersey Northeast

JLL Arranges $36M Construction Loan for Central New Jersey Multifamily Project

by Taylor Williams July 31, 2025

SAYREVILLE, N.J. — JLL has arranged a $36 million construction loan for Camelot on Main Street, a 142-unit multifamily project that will be located in the Central New Jersey community of Sayreville. The complex will comprise six buildings that will house 134 market-rate units and eight affordable housing units with an average size of 1,068 square feet. Floor plans were not disclosed, but residences will be furnished with stainless steel appliances, quartz countertops and individual washers and dryers. Amenities will include a fitness center, pool, lounge area with a coffee bar, parcel room, fire pit, barbecue area, playground and a dog park. Michael Klein, Jim Cadranell and John Cumming of JLL arranged the floating-rate loan through Provident Bank on behalf of the developer, Kaplan Cos.

July 31, 2025

Development Multifamily New Jersey Northeast

Connell Co. Tops Out 11-Story Multifamily Project in Berkeley Heights, New Jersey

by Taylor Williams July 31, 2025

BERKELEY HEIGHTS, N.J. — Locally based developer The Connell Co. has topped out RT500, an 11-story multifamily project located within The Park, a 185-acre mixed-use development in the Northern New Jersey community of Berkeley Heights. Minno & Wasko Architects and Planners, in collaboration with David M. Sullivan Inc., designed RT500, which will be one of two buildings at The Park under Connell’s Round Table (RT) Residences brand. Upon completion, which is slated for next summer, the building will offer 179 units and amenities such as an outdoor pool, entertainment lounge, game room, fitness center and coworking space.

July 31, 2025

Development Multifamily New Jersey Northeast

JLL Arranges $29.5M Construction Loan for Northern New Jersey Multifamily Project

by Taylor Williams July 30, 2025

NUTLEY, N.J. — JLL has arranged a $29.5 million construction loan for Soho Park Residences, an 85-unit, age-restricted multifamily project in the Northern New Jersey community of Nutley. Units will come in one- and two-bedroom floor plans with an average size of 1,110 square feet. Amenities will include a fitness and wellness center, library, sun deck with a pool, outdoor grilling stations and a resident clubroom. Thomas Didio Jr., Gerard Quinn, Michael Mataras and Michael Donohoe of JLL arranged the 2.5-year, floating-rate loan through Kearny Bank on behalf of the borrower, Rock Solid Builders Inc. Construction is expected to be complete in early to mid-2027.

July 30, 2025

Acquisitions Industrial New Jersey Northeast

CBRE Negotiates $12.7M Sale of Industrial Flex Property in Rockaway, New Jersey

by Taylor Williams July 30, 2025

ROCKAWAY, N.J. — CBRE has negotiated the $12.7 million sale of Pine Street Commons, an industrial flex property in Rockaway, located just west of New York City. The property consists of six buildings on a 17-acre site. Charles Berger and Jeffrey Babikian of CBRE represented the seller, an entity doing business as Pine Street Commons LLC, in the transaction. The team also procured an undisclosed private investor as the buyer. Pine Street Commons was roughly 95 percent leased at the time of sale.

July 30, 2025

Development Mixed-Use New Jersey Northeast

Prism Capital Partners Receives Three Approvals for Northern New Jersey Mixed-Use Redevelopment

by Taylor Williams July 29, 2025

CLIFTON AND NUTLEY, N.J. — Locally based development and investment firm Prism Capital Partners has received three redevelopment plan approvals from the City of Clifton and the Township of Nutley, both located in Northern New Jersey, for a mixed-use project. The project is part of Prism’s 116-acre ON3 campus, which is a redevelopment of the former North American headquarters campus of pharmaceutical company Hoffmann-La Roche. The approvals pave the way for the construction of up to 1,074 multifamily units, 90,000 square feet of retail and restaurant space and a 150,000-square-foot life sciences facility, as well as a potential data center. In Clifton, Prism’s newly approved Phase IV redevelopment plan includes the multifamily and retail elements, sited on acreage along Route 3 East. The July approval covers Prism’s plan to introduce new housing, restaurants and retail space. In Nutley, ON3’s Innovation Center tract fronting Kingsland Street is earmarked for the development of a research-and-development facility. Prism has secured an undisclosed, international consumer products company to lease the property and anticipates an imminent site plan approval filing. Construction could begin in the coming weeks. Additionally, Nutley has approved Prism’s plan to redevelop 11 acres at 275 Kingsland St., a site that can accommodate …

July 29, 2025

Signature-Place-Morris-Plains-New-Jersey

Acquisitions Multifamily New Jersey Northeast

CBRE Brokers $85M Sale of Northern New Jersey Apartment Complex

by Taylor Williams July 29, 2025

MORRIS PLAINS, N.J. — CBRE has brokered the $85 million sale of Signature Place, a 197-unit apartment complex located in the Northern New Jersey community of Morris Plains. Built in 2018, the property offers one-, two- and three-bedroom units with an average size of approximately 1,000 square feet. Amenities include a pool, fitness center with a yoga studio, golf simulator, private movie theater, conference rooms, pet spa and a clubroom with a fireplace and game table. Jeffrey Dunne, Stuart MacKenzie, Eric Apfel, Travis Langer, Roland Merchant and Tom Pryor of CBRE represented the seller, Veris Residential, in the transaction. The buyer was not disclosed.

July 29, 2025

Acquisitions Multifamily New Jersey Northeast

Kislak Negotiates $4.7M Sale of Two Apartment Buildings in Irvington, New Jersey

by Taylor Williams July 29, 2025

IRVINGTON, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $4.7 million sale of two apartment buildings totaling 47 units in the Northern New Jersey community of Irvington. The building at 15 Chester Ave. has 33 units, and the building at 628-630 Lyons Ave. has 14 units. Joni Sweetwood of Kislak represented the sellers, both of which were limited liability companies, in the transaction. Sweetwood also procured the buyer, CY Management LLC.

July 29, 2025

Newer Posts

Older Posts