CBRE has been appointed as the exclusive advisor for the sale of Cortlandt Terrace, a newly delivered, 100% market-rate luxury apartment community located at 371 Cortlandt Street in Belleville.
Positioned within one of Northern New Jersey’s rapidly growing rental markets, the five-story property encompasses 115 residences spanning a mix of studio, one-, and two-bedroom layouts ranging from 570 to 1,189 square feet. Units feature high-end finishes including quartz countertops, stainless steel appliances, in-unit washers and dryers, and select private terraces. The building has secured its Temporary Certificate of Occupancy and is actively leasing, presenting a rare opportunity for a prospective buyer to capture lease-up upside.
“Cortlandt Terrace represents a unique opportunity to acquire a best-in-class multifamily asset at the beginning of its lease-up cycle,” CBRE’s Fahri Ozturk, said. “The combination of high-quality construction, strong demographic drivers, attractive commuter access, and a favorable tax structure positions the property exceptionally well for long-term performance.”
Residents benefit from a lifestyle-oriented amenity package featuring a resort-style swimming pool, fitness center, and resident lounge. Additionally, the property includes an 8,600-square-foot mezzanine level that is largely vacant, offering a buyer significant flexibility to expand existing amenities without sacrificing rentable square footage.
Located roughly 30 minutes from Midtown Manhattan, Cortlandt Terrace offers robust transit connectivity. It sits a four-minute walk from an NJ Transit bus stop and approximately 15 minutes from both Newark Penn Station and Newark Liberty International Airport.
