Luxury 110-unit apartment community trades for $35.075M in New Jersey

MORRISTOWN, N.J., Feb. 19, 2026 –  JLL Capital Markets announced today that it has represented Landmark Companies in their $35.075 million acquisition of The Grove at Piscataway, a luxury 110-unit multifamily community located in Piscataway, New Jersey.

The Grove at Piscataway is strategically positioned at 67 Old New Brunswick Rd., just off Interstate 287, providing unmatched regional connectivity to major thoroughfares including Routes 18, 28, 22 and 1, the Garden State Parkway and the NJ Turnpike. The property offers convenient access to Manhattan in less than one hour via nearby train stations and is located just 10 minutes from Rutgers University.

The 107,596-square-foot community was built in 2020 and is currently 95% occupied. The property features a diverse mix of one-, two- and two-bedroom plus den apartments averaging 978 square feet, with 88 market-rate and 22 affordable units across three residential buildings and a clubhouse.

The community offers condo-level finishes including nine-foot ceilings, luxury plank flooring, stainless steel appliances, white quartz countertops, custom modular closets and in-home washers and dryers. Resort-style amenities include an outdoor swimming pool with bar and BBQs, state-of-the-art fitness center, social lounge with billiards, co-working space and EV charging stations.

JLL Capital Market’s Investment Sales and Advisory team was led by Senior Managing Directors Mike Oliver, Jose Cruz and Steve Simonelli, Senior Directors Elizabeth DeVesty and Ryan Robertson and Director Austin Pierce.

"The Grove at Piscataway represented an exceptional opportunity to acquire a newly constructed, luxury multifamily asset in a prime location with strong fundamentals," said Oliver. "The property's high-end finishes, resort-style amenities and proximity to major employment centers and transportation hubs made it an attractive investment for Landmark Companies as they pivot their company in a new direction."

This transaction completed a 1031 exchange for Landmark, in which they sold legacy properties constructed in the 1970’s, the majority of which their families built and executed two replacement acquisitions: The Grove at Piscataway and Hudson 5401 Apartments in Raleigh, North Carolina. “We are making an effort to position our company for future success by improving the product type we own and manage,” said Landmark’s principals Eric Harvitt and Michael Gottlieb. “By trading older properties for newer construction, we are modernizing our portfolio for the next generation of residents and reinforcing our commitment to holding high-quality assets for decades to come.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of December 31, 2025. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.