Zephyr Ridge in Cedar Grove — Courtesy: Cushman & Wakefield
By Joshua Burd
A newly developed, 24-unit apartment property in Cedar Grove has hit the market for sale, brokers with Cushman & Wakefield announced Wednesday.
The real estate services firm said it was marketing what’s known as Zephyr Ridge, which was completed in 2018, on behalf of NJ Investment Group. Made up of two three-story buildings along Grove Avenue, the luxury community is 100 percent leased and benefits from affluent demographics and its proximity to four NJ Transit rail stations.
“The fully leased Zephyr Ridge luxury apartment community has proven it is positioned to attract residents who are looking for a combination of larger floor plans, new construction and other premier amenities such as rare private garages,” C&W’s Brian Whitmer said. He touted the area’s average household income of over $150,000, high cost of single-family housing, a growing “move-down” population and top educational and health care facilities.
“All of those factors support the demand for Zephyr Ridge, as the community provides the perfect lifestyle and conveniences for its residents.”
Whitmer is heading the assignment with Andrew Merin, David Bernhaut, Gary Gabriel, Ryan Dowd and Mark Phillips from C&W’s investment sales team.
Apartments at Zephyr Ridge feature large floorplans with high-end finishes and appliances, while the complex offers amenities such as an outdoor patio with grills, private garage parking, a resident lounge, storage units and a fitness center.
C&W noted that the Upper Montclair train station is less than two miles away, providing direct service to New York’s Penn Station, while also touting the site’s proximity to retail and cultural attractions.