CBRE on Wednesday said it helped trade Hue Soul, a development site fully approved for 113 market-rate residential units in East Orange, for $4.15 million.
The CBRE team of Jeff Dunne, Stuart MacKenzie, Eric Apfel and Travis Langer represented the seller, Novus Landmark, while also procuring the undisclosed buyer.
Located at 1 South Burnet Street, the site’s superb location within walking distance to both the Brick Church and East Orange train stations provide direct access to Manhattan in under 30 minutes and Newark’s Broad Street Station in approximately five minutes. Once completed, the development will offer first-class amenities, including a large outdoor amenity deck with four separate seating areas.
“The site offers excellent access to major employment centers in Newark to the east and Livingston, Roseland, Parsippany, Florham Park and Morristown to the west,” Dunne commented. “The immediate neighborhood, now called the Arts and Cultural District, is slated for a major transformation in the next 18 months, further attracting residents.”