Tudor House Apartments at 39 Green Village Road in Madison — Courtesy: Hudson Atlantic Realty
By Joshua Burd
A distinctive 26-unit apartment building in downtown Madison has traded for $14.7 million, brokers with Hudson Atlantic Realty announced Wednesday.
Known as Tudor House Apartments, the property at 39 Green Village Road is within walking distance of restaurants, shops and direct train service to Manhattan. It’s also within a 10-minute drive of Drew University, Fairleigh Dickinson University and Morristown Medical Center, helping to fuel the $565,000-per-unit sale price.
“Closing this sale at a record-setting price and pace within only five weeks of being exclusively listed demonstrates that deals can get done despite today’s challenging financial circumstances,” said Adam Zweibel, Hudson Atlantic Realty’s managing partner, who brokered the sale with . Nicholas Favorito, a sales agent with the Matawan-based firm.
Tenants at Tudor House, which was built in 2015, have garage parking and in-unit laundries.
“Our deep understanding of market dynamics together with a surgically targeted marketing plan enabled us to deliver quickly on behalf of our client,” said Jeffrey Otteau, Hudson Atlantic’s managing broker.