New York Life Provides $36.5M Loan for Multifamily Asset in Morristown, New Jersey


Metropolitan at Park 40 in Morristown, New Jersey, totals 130 units. The property was built in 2010.

MORRISTOWN, N.J. — New York Life Real Estate Investors has provided a $36.5 million loan for The Metropolitan at 40 Park, a 130-unit apartment building in Morristown, about 35 miles west of New York City. The property features studio, one- and two-bedroom units that offer private balconies or terraces. Amenities include a fitness center, game room, rooftop terrace and a package center with lockers. A partnership between Woodmont Properties and Roseland Residential Trust developed the seven-story, Class A building in 2010.

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