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TreeTop Acquires Aspen Stratford Apartments in Newark

NEWARK-The 115-unit HUD subsidized rental complex is undergoing a $1 million renovation.

By Debra Hazel | Updated on October 13, 2011

NEWARK-TreeTop Development has acquired Aspen Stratford, a 115-unit HUD subsidized rental complex located at 19 and 29 Stratford Place here from a private seller for an undisclosed sum, the company says. The deal is TreeTop’s fifth such acquisition of HUD properties in the city. Its apartment portfolio includes more than 1,250 units in Newark and 2,000 in Essex County, according to Adam Mermelstein, a principal of TreeTop Development. 

“We consider ourselves major players in the Essex County market,” Mermelstein tells GlobeSt.com. “We are firm believers in Newark and the growth and opportunities here.”

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