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CBRE Negotiates $84.2M Sale of Gaslight Commons Apartments in South Orange, New Jersey

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Gaslight Commons in South Orange totals 200 units. The property was built in 2002.

SOUTH ORANGE, N.J. — CBRE has negotiated the $84.2 million sale of Gaslight Commons, a 200-unit apartment community in South Orange, about 20 miles west of New York City. The sales price equates to $421,000 per unit. Built in 2002, the property features one- and two-bedroom units that are furnished with stainless steel appliances, tile backsplashes, granite countertops and walk-in closets. Amenities include a pool, business center, fitness center and a resident clubhouse. Jeffrey Dunne, Gene Pride, Jeremy Neuer, Steve Bardsley, David Gavin and Travis Langer of CBRE represented the undisclosed seller in the transaction and procured Pacific Urban Residential as the buyer.

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