Rahway, NJ MF Property Meridia at Waters Edge in $29.3M Trade

Meridia at Waters Edge, Rahway, NJ

RAHWAY, NJ—Meridia at Waters Edge , a newly constructed 108-unit luxury apartment-rental community in the heart of Rahway, NJ, has traded hands for $29.328 million. Gebroe-Hammer Associates’ team of Ken Uranowitz , president, and Gehane Triarsi , sales representative, exclusively represented the seller, Meridia’s Water Edge Urban Renewal Rahway , and identified the buyer, 4 City Hall Plaza Urban Renewal . “Rahway has established itself as one of New Jersey’s leading residential centers for urban sophisticates seeking affordability and a convenient metro lifestyle,” says 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.” 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 a designer kitchen 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. 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.