A 38-story, 417-unit luxury apartment community near the Jersey City waterfront has been sold to a Boston-based real estate firm.
Rockpoint bought The Morgan Provost Square at 160 Morgan Street for an undisclosed price.
The Oct. 15 transaction marks the largest multifamily deal in New Jersey so far this year, according to a statement by JLL Capital Markets, which brokered the sale.
Hudson County online records show a previous mortgage on the property for $133 million was settled this week, though that does not indicate the new sale price.
JLL represented the seller in the joint venture that also includes Toll Brothers Apartment Living.
JLL also secured financing for the new owner.
Built in 2016, the 38-story high-rise spans 365,361 rentable square feet and maintains over 97% occupancy.
The property features market-rate units ranging from studios to three-bedroom residences.
Penthouses occupy the top two floors.
The building includes approximately 12,700 square feet of retail space and a seven-story parking garage with 372 covered spaces.
The seller was led by JLL senior managing directors Jose Cruz, Michael Oliver and Steve Simonelli, senior director Ryan Robertson and directors Elizabeth DeVesty and Austin Pierce.
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