Cole Schotz Represents Sentinel Real Estate Corp. in the Acquisition of Stonehill at West Orange, a 423-Unit Luxury Apartment Community

Cole Schotz represented Sentinel Real Estate Corp. in its acquisition of Stonehill at West Orange, a newly developed 423-unit luxury apartment community in West Orange, New Jersey. The transaction required approval from the Township due to the property’s PILOT (Payment in Lieu of Taxes) agreement. Cole Schotz secured this approval and guided Sentinel through a complex diligence process, including title review, coordination with local counsel on lease and affordable housing matters, employment issues related to on-site staff, and structuring a reverse 1031 exchange.

Stonehill, designed by Minno & Wasko Architects, sits on the former site of a defunct office park off of I-280, about 16 miles west of Midtown Manhattan. The three-building complex offers one- to three-bedroom units with upscale features such as wine refrigerators, built-in desks, frameless shower doors, and private outdoor spaces. The property boasts more than 44,000 square feet of amenities, including two fitness centers, multiple coworking spaces, lounges, coffee bars, and concierge services. It also includes 816 parking spaces, some with EV charging and direct garage access.

Adjacent to the Essex Green Shopping Center and near major employment hubs like Newark and Jersey City, Stonehill offers residents a direct shuttle to NJ Transit’s Orange station. The site is surrounded by golf courses and provides access to more than 2,500 acres of public parks. The acquisition aligns with Sentinel’s strategy to invest in high-end multifamily assets near key lifestyle and employment centers.

The Cole Schotz member team included Leo Leyva, Rab Nalavala, Matthew Schneid, Jonathan Goodelman, Chris Caslin, Wendy Berger, Marissa Mastroianni, Jeffrey Schechter, associate Denise Krall, and law clerk Gwendolyn Goodyear.