The Quincy at 120 Neilson St. in New Brunswick — Courtesy: JLL
By Joshua Burd
A luxury apartment complex in New Brunswick is on the market for sale, providing a chance for would-be investors to plant a flag in the city’s fast-growing downtown.
Brokers with JLL have listed what’s known as The Quincy, at 120 Neilson St., noting that the 393-unit property is just a half-mile from the New Brunswick train station. The collection of studio, one-bedroom and two-bedroom rentals is also a short walk from the city’s major employers and anchor institutions, including Rutgers University, St. Peter’s University Hospital, Robert Wood Johnson University Hospital and Johnson & Johnson’s world headquarters, as well as the planned Health + Life Science Exchange campus that’s now taking shape.
Built in 2018, the eight-story complex also has amenities such as a rooftop terrace with a pool, a dog park and pet spa, a fitness center and a resident lounge.
“This dynamic luxury community boasts a remarkable Walk Score of 98, reflecting its highly
walkable location with easy access to local amenities,” JLL wrote in its marketing materials, referring to an industry tool for analyzing a building’s location. The firm added that The Quincy benefits from a long-term payment in lieu of taxes agreement with some 22 years of term remaining and the opportunity for rental upside in about 22 percent of the units.
JLL’s Jose Cruz, Steve Simonelli, Mike Oliver, Elizabeth DeVesty and Austin Pierce are spearheading the listing with support from financing brokers Gerard Quinn and Thomas E. Didio Jr. They noted that New Brunswick has averaged 5 percent vacancy since 2022, with rent growth of 7.6 percent over the same period.
What’s more, New Brunswick’s population grew 16 percent from 2000 to 2024, JLL said. The median age is 25.8, indicating a growing young, dynamic population.
