Marcus Partners, Sterling Properties, and Danbro Properties Close on Site For New Multifamily Project in Watchung, NJ
Construction on the 230-Unit, Ground-Up Development is Now Underway
Marcus Partners Partners is pleased to announce that it has joined with Sterling Properties and Danbro Properties in closing on Blue Hill at Watchung, a 230-unit luxury multifamily community now under construction. The project, which was entitled by Sterling and Danbro, is set on 41.8 acres in Watchung, NJ, and marks a significant addition to the region’s multifamily stock. The first units are scheduled for delivery by the end of December 2026.
The $104M development will feature six elevatored residential buildings and a centrally located amenity clubhouse, offering a resort-style pool, fitness center, co-working spaces, indoor/outdoor lounges, a dog park, and a golf simulator. Approximately 20 acres of the site will be preserved as conservation land, providing a natural buffer and estate-like setting not commonly found in Northern New Jersey multifamily properties.
“Sterling and Danbro have demonstrated exceptional commitment and expertise in bringing Blue Hill at Watchung to this stage,” said David Fiore, Principal, New York Regional Director of Marcus Partners. “We are excited to partner with these experienced developers to deliver a unique project to the Watchung community as we continue our program of developing quality multifamily communities in supply-constrained markets.”
The project will deliver a new, high-quality multifamily property set to serve a broad demographic, including empty nesters seeking to downsize within the community and new residents relocating from urban areas. Twenty percent of the homes will be designated as affordable, addressing local housing needs. The location offers immediate access to I-78 and Route 22, and is adjacent to Connell Corporate Park, a 1.5 million square foot mixed-use campus.
“Blue Hill at Watchung will be the first luxury multifamily community delivered in Watchung in nearly a decade,” remarked Steven W. Katz, Co-Founding Principal of Sterling. “The community will bring a Class A product to a highly desirable, underserved marketplace.”
“We are thrilled to partner with esteemed firms like Sterling Properties and Marcus Partners to bring Blue Hill at Watchung to the marketplace,” said Kevin X. Codey, Founder of Danbro Properties. “Despite navigating a complex entitlement process and challenging capital market environment, we are excited to bring this vibrant community to life.”
Financing for the project was provided by First Citizens Bank. Jon Mikula, Jim Cadranell, and Michael Lachs of Jones Lang LaSalle’s Morristown office arranged the debt and equity capital.
About Marcus Partners
Marcus Partners is a vertically integrated real estate firm with a team that has a 30-plus year history of successful investment, management and development. The firm is headquartered in Boston, with regional offices in Metro New York and the Mid-Atlantic. The firm focuses on strategic and opportunistic investment strategies across industrial, multifamily, and other property types where it can create value and maximize risk-adjusted returns. Marcus Partners and its affiliates own, control, operate or are developing 7M+ square feet of real estate and 3,200+ multifamily units.
About Sterling Properties
Sterling Properties is widely recognized as a premier real estate developer of luxury rental residences throughout New Jersey and the tri-state region. With more than 50 communities encompassing more than 7,500 units, Sterling Properties adheres to a fundamental philosophy and the same formula that has brought about its outstanding success and achievements for more than three decades. For information on Sterling visit www.SterlingPropertiesNJ.com.
About Danbro Properties
Danbro Properties is a New Jersey-based real estate development firm specializing in sustainable, high-quality, well-located projects in the tri-state area. With a focus on transforming underutilized properties, Danbro creates vibrant communities that deliver lasting values to all stakeholders. With more than 1,000 units in the development pipeline, Danbro is poised to continue to set the standard of Redevelopment in the tri-state area. For more information, please visit www. DanbroProperties.com.
16 July 2025