Blackstone’s NJ Multifamily Leases in Record Time
Striker Leasing exclusively leased the 180-unit, luxury apartment development within four months.
EAST ORANGE, NJ – Blackstone’s sculptural mixed-use development in East Orange, NJ, Lotus 315, has fully leased in record-breaking time.
The building, which represents Blackstone 360’s fourth luxury project and first mixed-use project within the city, was leased by luxury apartment firm, Striker Leasing.
Blackstone selected Striker Leasing to exclusively lease the property, as well as its sister asset, Aura 240.
Striker Leasing began its efforts to lease the 180-unit asset in September 2019, soon after the leasing company’s launch.
Led by Brian Jaffe, Striker Leasing’s apartment leasing division successfully tenanted 70 luxury apartments within 100 days. The firm achieved 95% occupancy for the property, while it was still under construction. Within a four-month period, the entire building was fully-leased.
The team executed guided site visits to potential tenants during the leasing process.
The building offers studio, 1-bedroom and 2-bedroom units, with rent prices averaging $2,200. The development’s apartment feature in-unit washers and dryers, stainless steel appliances, hardwood floors, Quartz countertops, porcelain tiles and private terraces for select units.
The pet-friendly property additionally offers a 24-hour gym, a garden lounge and party room, a 24-hour doorman and a free shuttle to Newark Penn Station.
Striking Leasing is currently preparing for the property’s grand opening in September, alongside the new 62-unit, luxury apartment in Newark, NJ, The William.
