Azure Partners Completes Sale of 219-Unit Apartment Property in Newark, New Jersey

The Addison in Newark, N.J., features 219 apartment units in studio, one-, two- and three-bedroom layouts, ranging from 700 square feet to 1,750 square feet.

NEWARK, N.J. — Azure Partners has completed the disposition of The Addison, two 15-story apartment towers located at 380 and 420 Mount Prospect Ave. in the Forest Hill section of Newark, for an undisclosed price. The property features 219 units in a mix of studio, one-, two- and three-bedroom layouts, ranging from 700 square feet to 1,750 square feet. At the time of sale, the property was 99 percent occupied. Jose Cruz, Kevin O’Hearn, Michael Oliver and Stephen Simonelli of HFF represented the seller in the deal. The name of the buyer was not released.