The developer of a 152-unit luxury apartment complex in Newark’s University Heights neighborhood has sold the property for $36.5 million, according to brokers with CBRE.
A new apartment building that has drawn renters from Newark’s health care and education sectors is now 80 percent leased, a mark that its developer says is validation of an emerging neighborhood in the city.
A focus on “eds and meds” has been a key ingredient in many urban success stories. For 24 Jones, one of the newest residential developments in Newark, the early returns show that to be part of a winning formula.
