A 38-unit senior apartment building in Netcong has changed hands for $10.8 million after more than two decades under its original ownership, according to Hudson Atlantic Realty.
Kings View Apartments at 1 Jenny Lind St. was built in 2002 by its longtime owner, who recently completed renovations on the four-story property before selling to a private buyer in an off-market transaction, according to a Nov. 26 statement by the realty firm.
The sale price equates to $284,211 per unit.
The property features a mix of luxury one- and two-bedroom apartments with amenities including a fitness center, resident lounge, on-site parking with garages, and laundry facilities on every floor.
Adam Zweibel, president of Hudson Atlantic, and Dante Fusaro, vice president of the Parsippany-based brokerage firm, represented both sides of the transaction.
Developer of longtime Netcong apartment complex cashes out for millions
