Rahway apartment complex sold for 29.3M

A luxury apartment complex in Rahway has sold for $29.3 million, according to real estate brokerage Gebroe-Hammer Associates.The 108-unit, five-story Meridia at Waters Edge was sold by Water Edge Urban Renewal Rahway LLC to 4 City Hall Plaza Urban Renewal LLC, according to Gebroe-Hammer.

Ken Uranowitz, president of Gebroe-Hammer, and Gehane Triarsi, sales representative, exclusively represented the seller and identified the buyer.

“Rahway has established itself as one of New Jersey’s leading residential centers for urban sophisticates seeking affordability and a convenient metro lifestyle,” Triarsi said in a prepared statement. “Since being designated as a transit village in 2002, Rahway’s smart-growth development has blended new downtown construction with the city’s established residential neighborhoods and acres of lake and river parklands.”

The complex, built in 2014, is located at 4 City Hall Plaza and features one- and two-bedroom layouts.