The Franklin Franklin Lakes, New Jersey

Execute CA

The Offering

Address

8 Tice Road
Franklin Lakes, NJ

As exclusive agent, Cushman & Wakefield’s Multifamily Advisory Group is pleased to offer a 100% fee interest in The Franklin for sale.

This rare offering presents the opportunity to acquire a 52-unit boutique, high-luxury apartment community in with best-in-class resort style amenities. The Franklin is located in Franklin Lakes, NJ in Bergen County.

Built in 2022, the community offers new ownership a top-of-the-line, new construction property with minimal deferred maintenance and a predictable stable income stream. The Franklin has resort style amenities packages that includes golf simulators, movie screening rooms, state-of-the-art fitness centers and resident lounges to name a few.

The Property is located in a high income area with the average annual income of the town averaging around $270,000. The premium finishes, thoughtful design and community amenities in conjunction with the prime location, make The Franklin an extremely attractive investment opportunity.

Investment Highlights

• Franklin Lakes is consistently ranked as one of NJ’s most affluent, high-end communities with an average household income of over $270,000

• Property sits less than two miles from both I-287 and Route 208

• Immediately surrounded by local amenities such as the Franklin Crossing and Franklin Lakes Towne Square

• Top of the line construction, built in 2022

• Resort style amenities that include golf simulator, state-of-the-art fitness center, movie screening room, resident lounge and event space, and patio with fire pits & BBQ stations

• Luxury unit finishes including in-unit washer dryer, custom built closets, quartz waterfall island & countertops, stainless steel appliances, 5-burner gas range with griddle and sculptural vented oven hood

• Outlying Somerset County submarket has a historically low vacancy rate of 3.1%

• An increase in high-paying jobs and the migration of NYC residents to the suburbs has created demand for premium rental product and has pushed average asking rents in the submarket 19% in 4 years