EAST RUTHERFORD, NJ – Directly across from MetLife Stadium sits The Monarch, a 316-unit luxury apartment community, that just traded hands for $91.5 million. The relatively new community was completed in 2014 and currently sits at 97% leased.
The property was marketed by Holliday Fenoglio Fowler. Neither the purchaser or seller were disclosed.
“The Monarch is a very visible, high-quality multi-housing asset in the Meadowlands, which is one of Northern New Jersey’s most active markets,” says José Cruz, managing director at HFF. “The quick lease-up of this property is evidence of the strength of the submarket.”
It’s one of a slew of new high-end amenitized buildings popping up outside of the more traditional urban markets. The community offers outdoor swimming pool, two courtyards with firepits and grills, a fitness center with yoga studio, lounge with bar and gaming area, children’s play room, business center, on-site retail, covered parking and a 24/7 concierge. Targeting commuters, they also offer shuttle service to Secaucus Junction.
[gmap height=”250px”]100-120 Schindler Ct, East Rutherford, NJ 07073[/gmap]
The Monarch – 100-120 Schindler Ct, East Rutherford, NJ 07073
