34 Bank, luxury community in Netcong, leases all 126 units in less than a year

CrownPoint Group announced Wednesday that it took less than a year to lease all 126 luxury apartment homes at 34 Bank, a new apartment community in downtown Netcong.

The development, which sits on 4.8 acres and comprises homes across four buildings, began leasing in December 2020 and was completed this past summer. CrownPoint first acquired the site in a joint venture with Circle Squared Alternative Investments and the Hampshire Cos. in 2019. It broke ground in late 2019 after having demolished a dilapidated industrial manufacturing building that previously existed on the site.

CrownPoint revamped the dormant property into a modern luxury apartment community just blocks from downtown Netcong’s vibrant Main Street, where residents can enjoy numerous retail shops and restaurants, water views of neighboring Musconetcong River and the many other recreational opportunities afforded by nearby Lake Hopatcong.

“CrownPoint had a vision for transforming an obsolete industrial building into an institutional quality apartment community in an underserved area of New Jersey. We’re excited to have brought this product to market and to meet the growing demand for a modern, world-class apartment community in burgeoning Netcong,” CrownPoint Group Vice President Michael Legacki said.

“This development offers residents prime access to both highways and mass transit. We’re grateful to the town of Netcong for working with us to bring this project to fruition and we know it will continue to catalyze the downtown area’s economic growth.”

The community offers one- and two-bedroom residences. It is located within walking distance to a New Jersey Transit train station and sits in close proximity to Interstate 80 and Routes 46, 206 and 10.