South Orange luxury apartments sell for $84M-plus

A luxury apartment community in South Orange has sold for $84.2 million, according to real estate firm CBRE.

Gaslight Commons, which comprises 200 units adjacent to the New Jersey Transit train station, was purchased by Pacific Urban Residential LLC from an undisclosed seller.

The CBRE team of Jeffrey Dunne, Gene Pride, Jeremy Neuer, Steve Bardsley, David Gavin and Travis Langer represented the owner while also procuring the buyer.

“Gaslight Commons has a fantastic location adjacent to the train station in the highly desirable town of South Orange,” Dunne said in a prepared statement. “There are many high-quality restaurants and entertainment venues in the walkable downtown, along with numerous parks and recreational outlets that are ideal in the current environment.”

Added Pride: “Pacific Urban will continue to focus on making Gaslight Commons a premier community by making enhancements to the unit finishes, common areas and outdoor space.”