A model unit at Central & Oak, a new 208-unit luxury apartment development at 80 Oak St. in East Rutherford — Courtesy: Sterling Properties/Willton Investment Group
By Joshua Burd
A joint venture has leased more than two-thirds of a new 208-unit luxury rental complex in East Rutherford, citing continued demand for suburban apartments in the midst of the pandemic.
Built by Sterling Properties and Willton Investment Group, the property known as Central & Oak comprises seven buildings about a mile west of Route 17. The community at 80 Oak St. is now 70 percent leased, thanks in part to features such as spacious layouts, low density and access to the outdoors.
“The pandemic has accelerated pre-existing trends that informed the design of Central & Oak, including the flight of renters toward communities that provide an airy, green-friendly environment without sacrificing accessibility and convenience to entertainment, dining, shopping and recreation,” said Nicholas Hollenbeck, director of sales and marketing for Sterling Properties. “While we anticipated significant interest in the community as a result of its exceptional location, expansive layouts and ample outdoor space — particularly the private balconies that highlight each apartment — leasing has outpaced our expectations.”
The property, which debuted last spring, includes a mix of upscale one- and two-bedroom homes with amenities such as a community clubhouse with an outdoor terrace, a conference room with work-from-home capabilities, a game room and a fitness center. Central & Oak also offers a lawn for outdoor movie showings, a fire pit, grills and a community dog park.
The developers, meantime, offer a community shuttle service to NJ Transit’s Rutherford station, which is a mile away, according to a news release. They also noted that the property is less than three miles from MetLife Stadium and American Dream.