A luxury rental community in Cedar Grove is ready to be sold, according to Cushman & Wakefield, the agent representing the seller, NJ Investment Group.
The 24-unit, two-building Zephyr Ridge was completed in 2018 and is 100 percent leased, Cushman & Wakefield said.
“The fully leased Zephyr Ridge luxury apartment community has proven it is positioned to attract residents who are looking for a combination of larger floor plans, new construction and other premier amenities such as rare private garages,” Brian Whitmer of Cushman & Wakefield said.
Whitmer, along with Andrew Merin, David Bernhaut, Gary Gabriel, Ryan Dowd and Mark Phillips, handled the assngment.
“Cedar Grove is part of a neighboring collection of affluent townships in Essex County. The local area has an average household income over $150,000, high cost of single family housing, a growing “move-down” population and world-class educational and health care facilities. All of those factors support the demand for Zephyr Ridge, as the community provides the perfect lifestyle and conveniences for its residents,” Whitmer said.
The property consists of two, three-story resident buildings with a total of 24 two-bedroom, two-bathroom units. It offers amenities including an outdoor patio with grills, private parking, a resident lounge, storage units and a fitness center.
Zephyr Ridge is within close access to the Upper Montclair NJ Transit rail station.