NEWARK, NJAlex Brown Realty and Treetop Development have sold Parkwood Place Apartments, a 294-unit mid-rise apartment community at 368 Mount Prospect Avenue in the Forest Hill neighborhood of Newark, NJ, for $23.8 million. HFF brokered the sale after marketing the property for the Brown/Treetop joint venture.

Parkwood Place Apartments consists of seven six-story buildings containing 71 studio, 147 one-bedroom and 76 two-bedroom units.  Most recently renovated between 2007 and 2014, the property is about 10 minutes from downtown Newark and 25 minutes from Manhattan via the Holland Tunnel.  The gated community also includes views of the New York City skyline, covered parking and a large well-manicured central courtyard. 

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