M id A tlantic Real Estate Journal — Owners, Developers & Managers — June 2025 — 27
www.marej.com
O wners , D evelopers & M anagers Cornerstone at Grassy Hollow II now fully leased in Ocean County, NJ Walters brings 34 new income restricted units to Manahawkin, NJ
ANAHAWKIN, NJ — Cornerstone at Grassy Hollow II, a premium income-restrict - ed apartment community in Ocean County, has reached full occupancy, announced Walters , the award-winning property’s owner and devel - oper. Located in the Mana - hawkin section of Stafford Township, at 200 Back Road, the 34-residence property was completed at year-end 2024. Cornerstone at Grassy Hol - low II consists of two- and three-bedroom apartments M Marcus & Millichap arranges $2.15M sale of multifamily property in DC
in four buildings. Residents enjoy a variety of high-end amenities such as a state-of- the-art fitness center, chil - dren’s tot lot, basketball court and community clubhouse with computer workstations. Apartments are equipped with in-unit washers/dryers. In addition to managing the property, Walters provides on-site supportive services such as after-school programs, special interest clubs, career readiness, a food pantry pro - gram, eviction prevention and social services assistance. “Having access to afford -
able homes can change lives – it means better schools, bet - ter health, and more financial stability for families,” said Joe Del Duca , partner and director of affordable hous - ing for Walters. “There’s a strong, ongoing demand for affordable housing, and we’re proud to have added a new option to meet that need in the community.” Rental rates at Cornerstone at Grassy Hollow II are in - come-restricted with all the units available to those who earn 60% or less of the area’s median income. MAREJ
Cornerstone at Grassy Hollow II
1915 Benning Road NE WASHINGTON, DC — Mar - cus & Millichap announced the sale of 1915 Benning Rd. NE, a nine-unit multifamily property in the Kingman Park neighborhood of Washington, DC, for $2.15 million “Our team ran an aggressive marketing process to create a competitive bidding environ - ment which ultimately resulted in multiple bids and a success - ful sales process,” said John Slowinski , associate. John Slowinski, Andrew Pacious, Ryan Murray and Marty Zupancic investment specialists in Marcus & Mil - lichap’s Washington DC of - fice, had the listing to market the property on behalf of the sellers, Srinivas Chivali and Kranthi Dudam, and procured the buyer, John Solomond . Completed in 2023, 1915 Benning Road NE offers nine luxury condominium units, including one one-bedroom and eight two-bedroom layouts, to - taling 8,240 s/f. The property is located near Union Market, the H Street Corridor and the RFK Stadium redevelopment in one of Northeast DC’s fastest- growing neighborhoods. MAREJ
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