Hudson Atlantic Realty closes $10.8M sale of Kings View Apartments in Netcong, New Jersey

Zweibel & Fusaro of The Zweibel Multifamily Group broker 38-unit 55+ community

Netcong, NJ — Hudson Atlantic Realty announced the off-market sale of Kings View Apartments, a 38-unit, 55+ adult community located at 1 Jenny Lind St. in Netcong, for $10.8 million ($284,211 per unit). The transaction marks the first time the property has ever traded since its original development and construction in 2002.

The sale was brokered by Adam Zweibel, president, and Dante Fusaro, VP, of Hudson Atlantic’s Zweibel Multifamily Group.

Built in 2002 and recently renovated by the original developer/owner, Kings View is a four-story elevator mid-rise featuring modern one- and two-bedroom residences with luxurious vinyl plank flooring, stainless steel appliances, tiled bathrooms, and walk-in closets. Community amenities include a fitness center, resident lounge, on-site parking with garages, and laundry facilities on every floor. Its irreplaceable location — just a five-minute walk to Netcong Station with direct NJ Transit service to Penn Station New York City — continues to drive exceptional demand.

“This transaction closed at an aggressive 5.75% in-place cap rate reflecting a rare opportunity to acquire a never-before-traded, 55+ community in one of Morris County’s most commuter-convenient locations,” said Zweibel

Fusaro added, “After more than two decades of ownership, the original developer recognized the ideal time to monetize their long-term hold and selected Hudson Atlantic to deliver a seamless deal execution.”

The sale further strengthens Hudson Atlantic’s leadership position in New Jersey multifamily investment sales, with Adam Zweibel having personally closed over $2 billion in apartment transactions throughout the state.