Southside Lofts at 1 Liberty St. in Robbinsville — Courtesy: Hudson Atlantic Realty
By Joshua Burd
Sharbell Development has sold a 64-unit apartment property in Robbinsville for $20 million, in a newly announced deal by Hudson Atlantic Realty.
According to the brokerage team, an undisclosed buyer purchased the Southside Lofts complex at 1 Liberty St. Built in 2020, the collection of one- and two-bedroom rentals is part of Sharbell’s flagship Town Center development near the junction of routes 33 and 130, benefiting from the area’s many retail and dining options.
Hudson Atlantic’s Adam Zweibel represented the seller in the deal, which he said equates to a 5.7 percent capitalization rate.
“We are thrilled to have brokered the sale of Southside Lofts, a high-quality asset in a prime location,” said Zweibel, the firm’s president and broker of record. “In a challenging capital market environment, it’s not easy to sell negative leverage deals. Our team’s expertise and ability to identify the right buyer with a compelling reason to transact allowed us to successfully close this deal.”
The firm added that Southside Lofts has modern amenities and high-end finishes, making it an attractive investment opportunity. The property’s location in Robbinsville, a rapidly growing community, further enhances its appeal.
“Our ability to find the right buyer who understands the value of this property in the current market is a testament to our team’s dedication and expertise,” Zweibel said. “We are proud to have represented the seller in this transaction and look forward to continuing to deliver exceptional results for our clients.”
