Newark’s 24 Jones apartment community sells for $36.5M

A Class-A apartment complex in Newark’s University Heights neighborhood has sold for $36.5 million.

CBRE announced the sale of 24 Jones on Jan. 5.

A team of Jeffrey Dunne, Jeremy Neuer, Steve Bardsley, Stuart MacKenzie, Eric Apfel and Travis Langer represented Tucker Development, the seller, and also procured the buyer, RJ Block Properties.

Built in 2016, and located at 24 Jones St. in Newark, the 152-unit community offers amenities including a fitness center; resident lounge; outdoor patio with grilling areas; covered, secure access parking and a 24-hour concierge, CBRE said.

Apartments are finished with vinyl plank flooring, granite countertops and stainless-steel appliances.

“24 Jones is an exceptional multifamily asset in a growing area of Newark,” Dunne said in a statement.

“The property benefits from its proximity to Rutgers University Hospital and Medical School, while also sitting adjacent to ShopRite and other retailers,” he continued. “This should continue to drive demand which bodes well for RJ Block’s investment.”

Earlier this week, CBRE announced that a team featuring Dunne, Neuer, Bardsley and Langer worked the sale of ETS’s 310,000-square-foot office/warehouse building in Ewing for $18.75 million.