Woodmont Liberty Apartments, a multifamily community located at 2000 Woodmont Drive in Independence, sold for $42.95 million. The sale of 120-unit apartment property was overseen by Morris County-based Sage Investment Real Estate Advisors on behalf of the owner, Woodmont Properties. The buyer was not disclosed.
Steve Tragash and Greg Pine, both co-founding partners at Sage, led a team that included Principal Eli Herskowitz and Analyst Angela Melillo. Sage also secured the buyer. This is the fourth transaction for Woodmont Properties handled by the firm. Other deals included sales in Morristown, South Amboy and Bridgewater.
“The sale of Woodmont Liberty Apartments underscores the robust demand for high-quality multifamily assets in well-located suburban markets,” commented Sage’s Steve Tragash. “We’ve seen tremendous growth in areas throughout Warren County, which offers the perfect blend of lifestyle amenities and accessibility. It’s increasingly becoming a preferred outer-ring suburb for those working in or commuting to New York City and various parts of Pennsylvania, driving strong rental demand and investor interest.”
Woodmont Properties developed Woodmont Liberty and opened it to renters in 2023. The fully-stabilized community is a mix of large one- and two-bedroom units with smart-home technology featuring gourmet kitchens, in-unit washers and dryers, and walk-in closets. Select residences feature patios or private balconies. Residents enjoy amenities including a swimming pool, fitness center, clubhouse, coworking spaces, outdoor grills and a dog park and pet wash station for pet owners.
Independence Township offers a suburban setting with access to both major employment hubs and outdoor recreation. Residents are close to top-rated schools, shopping and dining. The convenient Warren County location gives commuters access to both Eastern Pennsylvania and New York City.
