The Green at Bloomfield — Courtesy: BNE Real Estate Group
By Joshua Burd
A new 140-unit, luxury apartment complex in Bloomfield has leased 50 percent of its units in less than two months — a pace that exceeds the expectations of its own developer.
The firm, BNE Real Estate Group, announced Friday that it had reached the leasing milestone at The Green at Bloomfield. The Livingston-based builder said the pace reflects the immense demand for upscale rentals in walkable, transit-centric downtowns, validating its decision to build in Bloomfield alongside other developers that have done so in recent years.
“Since opening our doors this fall, the outpouring of people who’ve decided to make The Green home have confirmed what we believed all along — that Bloomfield is the kind of community that’s primed to attract renters of every age and demographic,” BNE Real Estate Group Partner Jonathan Schwartz said in a prepared statement. “We look forward to growing alongside downtown Bloomfield as it cements its place as one of New Jersey’s most sought-after transit hubs.”
The Green, a boutique property with modern amenities, sits in a part of the town that includes a growing selection of bars, restaurants, shops, parks and other entertainment options. It’s also just a few blocks from an NJ Transit station that provides residents with a 35-minute commute to Manhattan.
Those attributes have attracted other developers in recent years, including the multifamily builder AvalonBay, along with Prism Capital Partners.
In a news release, BNE noted that The Green also has ground-floor retail space that “will soon be occupied by a diverse selection of retailers.” Schwartz added: “Whether they work in New York or simply want to take advantage of its endless entertainment and cultural options, The Green provides residents with easy access to all the city has to offer.”