By Joshua Burd
Forte Real Estate Development has sold a nearly completed, 242-unit luxury apartment building in Carteret for $87.5 million, borough officials announced last week.
Now known as The Botanic, the property at 36 Washington Ave. is currently in lease-up at a site just off Roosevelt Avenue and roughly a mile east of the New Jersey Turnpike. It’s now under new ownership after Forte’s sale of the project to Living Residential, a Lakewood-based operator that owns roughly a half-dozen communities in the state.
Barry Waisbrod, an executive vice president with The Kislak Co. Inc., arranged the sale.