The Waxwood 35 Quarry St 34 Unité Immeuble d’appartements 19 824 836 $ CAD (583 083 $ CAD/Unité) 4,31% Taux de capitalisation Princeton, NJ 08542

The Waxwood Apartments (“The Property”) is a thoughtfully designed boutique multifamily community located at 35 Quarry Street in Princeton, New Jersey—one of the most supply constrained and prestigious submarkets in the region. Originally constructed as a local schoolhouse, the building has been carefully repurposed into residential use, preserving its architectural character while adapting it for modern living.
Positioned in downtown Princeton and Princeton University, The Waxwood offers investors a rare opportunity to acquire a distinctive apartment asset with historic provenance, strong fundamentals, durable tenant demand, and longterm appreciation potential.
PROPERTY FACTS:
Property Name: The Waxwood Apartments
Address: 35 Quarry Street, Princeton, New Jersey
Asset Type: Multifamily
Building Type: Low Rise
Year Built / Bldg. Addition/ Conversion to Multi: 1909 / 1939 / 2002
Number of Buildings: 1
Total Units: 34 (8 Princeton Preferred Affordable Units)
Many of the current tenants are students and professors
Stories: Three
Parking: 46 surface spots
Zoning: R4-B Zoning
PRINCETON NEW JERSEY: CULTURE. COMMERCE. COMMUNITY.
A rare blend of Ivy League prestige, curated retail, and destination dining — all within a highly walkable downtown. Princeton offers affluent demographics, tourism, and enduring institutional demand — supporting long-term commercial investment stability.
ACADEMIC ANCHOR
» Princeton University, driving year-round foot traffic, global visibility, and economic stability.
RETAIL & BOUTIQUES
» Palmer Square – Luxury boutiques & seasonal events
» Labyrinth Books – Iconic literary destination
» Princeton Record Exchange – Nationally known vinyl & music retailer
DINING DESTINATION
» Elements – Chef-driven fine dining
» Mediterra – Mediterranean staple
» The Bent Spoon – Award-winning artisan dessert
ARTS & CULTURE
» McCarter Theatre Center
» Princeton University Art Museum
» Museum & Garden
OUTDOOR LIFESTYLE
» Delaware and Raritan Canal State Park
» Princeton Battlefield State Park
KEY HIGHLIGHTS:
» Prime Princeton location at 35 Quarry Street with convenient access to downtown, transit, and cultural anchors
» Adaptive reuse of a former school building, creating architectural character rarely found in local rental stock
» Boutique scale appealing to professionals, academics, and long term renters seeking authenticity
» Attractive unit mix with efficient layouts and unique interiors
» Strong market fundamentals driven by Princeton University, healthcare, and regional employment
» Limited competing multifamily supply due to zoning and land constraints
» Opportunity for continued rent growth supported by scarcity and location