JLL Capital Markets announced today it closed the $114.45 million sale of the 360-unit Prospect Place Apartments in Hackensack, New Jersey.
JLL represented the seller, Kushner Companies, to complete the sale to the buyers, Khosla Capital LLC and DKJ Equity LLC.
Prospect Place Apartments total 428,040 rentable square feet and consist of one-, two- and three-bedroom floorplan options. Built in 1995 and 2005, the property was recently renovated, with updated units including in-home washers and dryers, hardwood-style flooring, stainless steel appliances and granite countertops. The building is pet-friendly and features top of the market community amenities including two fitness centers, game room, swimming pool, resident lounge and business center as well as garage parking. The buyer has immense opportunity to continue updating original units.