Upscale Apartment Complex In Parsippany Sells For $82.5M

PARSIPPANY, NJ — An upscale apartment complex in Parsippany sold for $82.5 million, according to JLL Capital Markets, which represented the seller.

The Mark Parsippany is a 212-unit, four-story apartment community at 1715 Route 46. Rent isn't cheap — one listing shows a 451-square-foot studio apartment at $2,100 a month. But the complex touts luxury for its tenants.

"Each unit offers stainless steel appliance packages, wood-look plank flooring, luxurious walk-in showers, chef-inspired kitchens outfitted with quartz countertops and elegant islands, high-end custom cabinetry, keyless entry and full-size washers and dryers," said Tuesday's announcement from JLL Capital Markets.

Harbor Group International sold the property to another real estate-investment giant — The DSF Group. The Mark features studio, one-bedroom and two-bedroom apartments. The units average 911 square feet but range between 463 and 1,136.