Molly Brook on Belmont

Haledon, NJ

Acquired September 2022

At a Glance

The Property is in North Haledon, New Jersey, about a 45-minute drive from Manhattan.

Investment Rationale

  • The average home prices in the surrounding area are well above the national average, making renting at the Property an affordable alternative for young professionals and empty nesters.

  • The immediate area has high barriers to entry. There is only one competitive property under construction, which is located 3 miles away. The location is expected to be inferior due to the industrial nearby and lower demographics.

  • Well designed, Class A property with Class A standard unit finishes. Amenities include a luxury clubhouse, a high-end gym, a resort style pool and grilling stations.

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