803 South Apartments at 803 South Ave. in Plainfield — Courtesy: Hudson Atlantic Realty
By Joshua Burd
The builder of a new 104-unit luxury apartment building in Plainfield has sold the property for $39 million, in a newly announced deal by Hudson Atlantic Realty.
The brokerage team said the seller, Romema Capital, completed the deal at 803 South Ave. after delivering the project in 2023. An undisclosed buyer purchased the building, known as 803 South Apartments, for a price that equates to $375,000 per unit.
Hudson Atlantic Realty President Adam Zweibel listed the property and brokered the sale.
“803 South is a testament of Plainfield’s commitment to revitalization, led by Mayor (Adrian) Mapp and Director Zenobia Fields of Economic Development,” Romema Capital’s Eyal Gagin said. “We are deeply thankful to the city for their longstanding partnership throughout the life of the project, including their cooperation in the transfer of ownership and (payment in lieu of taxes) agreement. Romema Capital is proud to contribute to this vibrant community and looks forward to future opportunities here.”
According to Hudson Atlantic, 803 South has floorplans ranging from studio to two-bedroom-plus-den units. Along with its upscale rentals, the property has more than 15,000 square feet of amenity spaces such as an expansive outdoor deck with a swimming pool, a modern fitness center and an integrated coworking lounge.
“Closing a $39 million transaction at $375,000 per unit in today’s market is a testament to our ability to deliver exceptional results,” Zweibel said. “803 South combines unmatched amenities with prime accessibility, a winning formula for both residents and investors, and we were proud to bring this deal to the finish line.”
