Monday, August 15, 2016

HFF closes $91.5 million sale of luxury apartment community in East Rutherford, NJ

The Monarch Apartments, Meadowlands Neighorhood, East Rutherford, NJ

Jose Cruz
 FLORHAM PARK, NJ, Aug. 15, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $91.5 million sale of The Monarch, a 316-unit, Class A, luxury apartment community located across from MetLife Stadium in the heart of the Meadowlands.

HFF marketed the property exclusively on behalf of the seller, a partnership between a New Jersey-based developer and an institutional owner.  The purchaser of the property was a private group.

The Monarch is situated on 15.8 acres at 100-120 Schindler in East Rutherford, New Jersey.  The six-story property is just off Route 3 near the New Jersey Turnpike/Interstate 95 exit within minutes of Route 17 and 21 and the Garden State Parkway, providing access around the State of New Jersey and into Manhattan. 

Completed in 2014, the 97-percent-leased property encompasses 316 units averaging 922 square feet each with best-in-class features, including large kitchens with stainless steel appliances and quartz breakfast bars, hardwood flooring, nine-foot ceilings, oversized windows, abundant closet space and in-unit washers and dryers. 

Community amenities include an outdoor swimming pool with sundeck, two outdoor courtyards with firepits and grilling stations, fitness center with yoga studio, lounge with bar and gaming area, children’s play room, business center, on-site sundries store, covered parking and two-story lobby with 24/7 concierge.

Kevin O'Hearn
 Additionally, the property offers residents shuttle service to Secaucus Junction, which provides train service into Manhattan and the surrounding area.

The HFF investment sales team representing the seller was led by senior managing director Jose Cruz, managing director Kevin O’Hearn, directors Stephen Simonelli and Michael Oliver and associate director Robert Borny.

“The Monarch is a very visible, high-quality multi-housing asset in the Meadowlands, which is one of Northern New Jersey’s most active markets,” according to Cruz.  “The quick lease-up of this property is evidence of the strength of the submarket.”

 For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 |

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