Hudson Atlantic Realty sells 284 unit Barrington Mews in New Jersey

President Adam Zweibel orchestrates transaction

Barrington, NJ — Hudson Atlantic Realty, a leading real estate investment and advisory firm, is proud to announce the successful sale of Barrington Mews, a 284-unit senior housing community located at 2101 Reamer Dr., Barrington. The property, recently released from its 30-year affordable income restriction under the Section 42 Low Income Housing Tax Credit (LIHTC) program, was sold by Adam Zweibel, president of Hudson Atlantic Realty.

Barrington Mews, originally developed in 1994, had been operating under LIHTC affordable restrictions until 2024, with additional NJHMFA restrictions expiring in February 2025. The property’s transition to market-rate potential unlocked significant value, attracting strong interest from investors. The sale reflects the property’s prime location just 12 miles from Philadelphia City Center, its robust historical occupancy rate of over 99% in the past 36 months, and its array of community amenities, including two community rooms, three elevators, eight on-site laundry facilities, and a barbecue and picnic area.

“This transaction marks a pivotal moment for Barrington Mews and underscores the growing demand for well-positioned multifamily assets with conversion affordable to market-rate potential,” said Zweibel. “The release of the low income restrictions, combined with the property’s desirable features and strong market fundamentals, enabled us to achieve an exceptional outcome for our client.”

Barrington Mews offers a mix of one- and two-bedroom units, and the opportunity for investors to implement the property’s strong income potential and the confidence of the market in its future performance as a market-rate multifamily asset.

About Hudson Atlantic Realty: Hudson Atlantic Realty is a premier real estate investment and advisory firm specializing in multifamily stabilized investment sales and approved development sites in New Jersey. With a commitment to maximizing value for clients, the firm leverages deep market expertise and strategic partnerships to deliver exceptional results.