Reflecting a robust demand for suburban multifamily assets in South Jersey, Hudson Atlantic Realty recently announced the $4.5 million sale of the Ivanhoe Apartments, a 33-unit community located in Blackwood. The transaction, brokered exclusively by Hudson Atlantic Realty President Adam Zweibel, achieved a valuation of approximately $136,364 per unit.
The sale of Ivanhoe Apartments marks a significant milestone for the property, which had not been offered to the market in more than 40 years. Comprised entirely of one-bedroom units, the community falls into a highly sought-after deal size category that continues to attract substantial private capital, particularly in markets where new housing supply remains constrained.
“This transaction is a strong reflection of where the South Jersey multifamily market stands today,” Zweibel said. “Suburban assets like Ivanhoe — well-located, stabilized, and in a market with limited new supply — are exactly what investors are competing for.”
Situated in Camden County, the property offers residents highly desirable access to major transportation arteries, including Route 42 and the Atlantic City Expressway, which provide direct links to the greater Philadelphia metropolitan area. Its proximity to significant employment hubs and retail corridors has historically contributed to the region’s low vacancy rates.
The successful closing of this transaction highlights broader investment trends in Southern New Jersey. Fueled by post-pandemic migration patterns, rising rental rates, and a lack of new inventory, the region has seen a steady upward trajectory in multifamily valuations.
