Multifamily Development Site Changes Hands in East Orange
CBRE closed the $4.15-million sale of Hue Soul, a development site fully approved for 113 market rate residential units in East Orange, NJ. The CBRE team, led by Jeff Dunne, Stuart MacKenzie, Eric Apfel, and Travis Langer, represented seller Novus Landmark while also procuring the buyer.
The site’s location within walking distance to both the Brick Church and East Orange train stations provides direct access to Manhattan in under 30 minutes and Newark’s Broad Street Station in approximately five minutes. Once completed, the development will offer first-class amenities including a large outdoor amenity deck with four separate seating areas.
Dunne said, “The site offers excellent access to major employment centers in Newark to the east and Livingston, Roseland, Parsippany, Florham Park, and Morristown to the west. The immediate neighborhood, now called the Arts and Cultural District, is slated for a major transformation in the next 18 months, further attracting residents.”