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Equity Residential Acquires NJ MF for $146M
New Jersey’s largest apartment sale so far this year has been completed. Equity Residential acquired The Rivington, a 240-unit, luxury apartment community in Hoboken, NJ, from institutional investors advised by J.P. Morgan Asset Management for $146 million.
The asset is situated at 1130 Grand St. in the heart of the dynamic northwest section of Hoboken, which offers commuters access into Manhattan via the Hoboken PATH Station, 14th Street Ferry Terminal and the NJ Transit bus line.
Completed in 1999, The Rivington features two-bedroom, market-rate units housed within four six-story apartment buildings, each with one story of ground-level, covered parking. A large number of units have been renovated since 2014. Community amenities include an updated fitness center, newly-renovated courtyard with lounge and grilling areas, clubhouse, private storage lockers and a Zipcar pickup/drop off station.
HFF’s Jose Cruz represented the seller director Kevin O’Hearn, Michael Oliver and Stephen Simonelli.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition