Donaldson Park Apartments at 321 Crowells Road in Highland Park — Courtesy: Gebroe-Hammer Associates
By Joshua Burd
More than 50 years after completing a 152-unit garden apartment complex in Highland Park, the developer of the property has sold it for $30 million.
Gebroe-Hammer Associates, which brokered the deal, said Wednesday that JGT Managing Partners had closed on its sale of Donaldson Park Apartments, located at 321 Crowells Road in Highland Park. The brokerage represented the seller and procured the buyer, Oxford Realty Group.
Gebroe-Hammer Executive Managing Director Joseph Brecher completed the deal for the Livingston-based firm.
“In addition to having extremely close proximity to the buyer’s main offices, Donaldson Park Apartments has some very unique characteristics, including all two-bedroom layouts — some of which have dens — with private patios and balconies for each unit,” Brecher said. “Highland Park is an extremely highly desirable borough among executives and academics with families, established post-bacc students and empty nesters because it is quaint, yet trendy with a thriving arts and dining scene.”
Built in 1966, Donaldson Park Apartments is named after the nearby 90-acre riverfront park. The six-building community has two different floorplans ranging from 910 to 1,070 square feet, the news release said, with features such as eat-in-kitchens, hardwood floors and sliding glass-door patios and balconies.
The buyer now plans to make improvements property-wide.
“Relative to New Jersey, Highland Park is a high-appreciating municipality that consistently draws an upper-income renter base employed within the thriving, well-located Middlesex County corridor and Greater New York City metro,” Brecher said.
