**Tishman Speyer Acquires Montclair Multifamily Property for $96M**
Tishman Speyer has acquired Two South Willow, a 200-unit apartment building located at 2 South Willow Street in downtown Montclair, New Jersey. The firm paid $96.15 million for the 172,279-square-foot multifamily property, which sits just 12 miles west of Manhattan.
Completed in 2021, the modern development includes 180 market-rate apartments and 20 affordable housing units, with layouts ranging from studios to two-bedroom homes. The property features contemporary finishes, a variety of amenities, and a mix of restaurant and experiential retail spaces.
“Two South Willow offers an elevated customer experience curated with high-quality modern finishes, robust amenities and a dynamic mix of restaurant and experiential retail offerings, all set within a premier New Jersey town with direct transit to Manhattan,” said Albert Schmool, managing director at Tishman Speyer.
The company plans to implement several improvements to enhance the resident experience, including upgrades to the lounge, roof deck, common areas, and mechanical systems. Additional plans call for reconfiguring the lobby and adding a coworking lounge and pet washing station. Currently, the property is 98% leased.
