RAHWAY, NJ, June 1, 2016 – Gebroe-Hammer Associates has arranged the $29.328 million trade of Meridia at Waters Edge, a newly constructed 108-unit luxury apartment-rental community in the heart of Rahway, N.J. The brokerage team of Ken Uranowitz, president, and Gehane Triarsi, sales representative, exclusively represented the seller, Meridia’s Water Edge Urban Renewal Rahway, LLC, and identified the buyer, 4 City Hall Plaza Urban Renewal, LLC.
Built in 2014, the five-story elevator building is located on the Rahway River. The apartment-rental community is steps from City Hall, Rahway Public Library, upscale shops, restaurants and cultural venues as well as Rahway Station, which offers Midtown direct service to New York Penn Station.
“Rahway has established itself as one of New Jersey’s leading residential centers for urban sophisticates seeking affordability and a convenient metro lifestyle,” said Triarsi, the firm’s Union County market specialist. “Since being designated as a transit village in 2002, Rahway’s smart-growth development has blended new downtown construction with the city’s established residential neighborhoods and acres of lake and river parklands. Today, the downtown district is home to more than 4,000 residents, approximately 60 percent of whom are renters.”
Considered extremely livable due to its walkability, abundant amenities, stable housing stock and high graduation rates, Rahway has always been a strong commuter town. Just 20 miles from New York City, access to Manhattan is a 40-minute train ride. The Rahway Train Station also links to the Northeast Corridor and the Jersey Shore.
Located at 4 City Hall Plaza, Meridia at Waters Edge features 108 luxury apartment-rental options, ranging from one- to two-bedroom layouts. Each apartment home features designer kitchens with authentic cherry-wood cabinetry, granite countertops and breakfast bar; oak hardwood floors; high ceilings; oversized windows; and spacious closets. The community is Energy-Star rated and includes energy-efficient lighting and LEED and Energy-Star rated appliances.
First-class community amenities range from interior waterfalls and game and leisure spaces, a tenants-only fitness center, smart-card-operated laundry rooms, business center and lounges. A full range of concierge services also include wash-and-fold laundry, dry cleaning pick-up and delivery and residence cleaning. Tenant key fobs allow entry to the lobby, garage and apartment entrances and a camera system is smartphone accessible.
Bordered by Clark, Linden and Woodbridge Township, Rahway offers proximity to a network of local and interstate highways. The city is primarily served by U.S. Route 1/9 as well as Route 27. Interchanges for the Garden State Parkway and New Jersey Turnpike/Route 95 are two miles outside of the city limits.