JERSEY CITY, NJ — A new, two-tower residential development, Parkview Apartments, will soon break ground in the Lafayette section of Jersey City, adjacent to Berry Lane Park, the city’s newest green space. New Jersey-based firms, Dresdner Robin and Monteforte Architectural Studio, are providing essential engineering, architecture, landscape architecture, surveying and planning services for the project.
Parkview Apartments includes two 89-foot buildings that will each rise sev
JERSEY CITY, NJ — Duke Realty, one of the largest domestic only, pure-play logistics property REITs (Real Estate Investment Trust) in the United States, has promoted Art Makris to regional senior VP of its Northeast operations. In his position, Makris will be responsible for the leasing and management of its existing industrial properties in New Jersey and Pennsylvania, as well as identifying new development and construction opportunities. In addition, he will pursue and eval
JERSEY CITY AND NEWARK, NJ — CenterPoint Properties announced the acquisition of a 315,389 s/f building on an extremely rare 44.1-acre site at 1049 Secaucus Rd. in Jersey City. Strategically located in the heart of the Northern New Jersey industrial market, the property offers excellent access to the New Jersey Tpke., NYC and nearby ports.
We are pleased to acquire this class A, last-mile facility in the heart of the largest U.S. population center. One of the biggest advant
JERSEY CITY, NJ — Developer KRE Group and Northwestern Mutual announced a joint-venture agreement to develop a sculptural, 38-story tower that will bring 507 new luxury residences and a 4,500 s/f public plaza to one of Jersey City’s most desirable neighborhoods. Located at 351 Marin Blvd., the mixed-use development, which stretches from 1st to Bay Sts., will also be home to nearly 8,000 s/f of commercial space, 203 parking spaces and two floors of amenities for its residents.
JERSEY CITY, NJ — Mack-Cali Realty Corp. has closed on the latest addition to its Jersey City residential portfolio, acquiring a two-tower, 648-unit apartment complex for $409 million.
The real estate investment trust, which is based in the city, announced in early August that it had agreed to acquire the Liberty Towers property at 33 Hudson St. It has now completed the acquisition of the twin 37-story buildings, which were built in 2003 and were among the first luxury apart
JERSEY CITY, NJ — Mack-Cali Realty Corporation has entered into two definitive agreements with one buyer for the sale of its 3.1 million s/f office/flex portfolio. The aggregate purchase price for the portfolio is $487.5 million. A portion of the proceeds from the sale will be used for the repayment of approximately $230 million of unsecured debt.
Michael DeMarco, CEO said, “The sale of our office/flex portfolio substantially completes our strategic repositioning. Mack Cali’
Loan provided by Wells Fargo and Capital One Banks
JERSEY CITY, NJ — KRE Group, a full-service real estate investment and management company with more than five decades of experience, and National Real Estate Advisors, LLC (National), an investment manager specializing in build-to-core, today announced they have closed on $258 million in financing for the construction of Tower Two at Journal Squared, the mixed-use development complex credited with helping to reenergize Jersey City’s historic Journal Square neighborhood.
JERSEY CITY, NJ — Negotiating on behalf of the borrower, Kathy Anderson, founding partner of Progress Capital, secured $21 million to refinance 11 multifamily buildings in Jersey City.
Jersey City is the second most populous city in the state of New Jersey, after Newark. The 11 properties span the city from the southwest area of Greenville to the northern Heights area close to Washington Square Park. The $21 million CRE Mortgage represents an 80% LTV and includes a 20-year t
JERSEY CITY, NJ — 90 Columbus has entered the downtown Jersey City residential scene with 539 rental residences and a full suite of modern amenities in one of the city’s most dynamic neighborhoods.
Leasing is underway at the new 51-story tower which was developed by Ironstate Development Company and Panepinto Properties at the entrance to the Grove Street PATH Station, with convenient service to Midtown and Downtown Manhattan. The building is also just steps froman eclectic
JERSEY CITY, NJ — Mill Creek Residential, a multifamily investor and operator specializing in premier apartment home communities across the U.S. announced the opening of a new office for their NY/NJ operations in Jersey City. The office, located at 1 Evertrust Plaza, is in the heart of the downtown, a major business and commercial district in Jersey City.
The opening follows Mill Creek’s sustained growth throughout Northern New Jersey, Westchester County and on Long Island.
JERSEY CITY, NJ — Kathy Anderson, managing partner at Progress Capital, packaged $7.23 million in loans to refinance four Jersey City multifamily buildings on behalf of JR City Properties. The four properties include a mixed-use building at 456-462 Laidlaw Ave. and the three multifamily buildings at 84 Waldo St., 30-41 Bleecker St. and 37 Paterson St. The properties encompass a total of 56 residential units and 3,500 s/f ground-level retail space.
All four loans include a 5
I don’t know about you but chirping smoke detectors drive me crazy. Why is it they always seemed to chirp late at night while trying to sleep or during the best part of my favorite TV show?
Smoke detectors chirp for a variety of reasons, one being low battery power. Many smoke detectors have a chirping safety warning built in, almost like saying “change my batteries or I will annoy you until you do”. That is, they will chirp when the batteries are running low; a warning tha
NORTHERN NJ — Cervelli Real Estate & Property Management announced the sale of several North Jersey Apartment assets (shown right). The first, in West New York was located at 215 64th St. The multifamily property had been on the market several times with other brokers but they were unable to identify the correct buyer who could close on the deal. There were some complications with an oil tank and some old, unaddressed violations, but Cervelli has built a reputation for closin
JERSEY CITY, NJ — With the cut of a ceremonial ribbon, 3 Journal Square Apartments officially opened today in Jersey City, a milestone moment touted by City officials and business leaders as the latest sign of the remarkable renaissance underway in the historic Journal Square neighborhood. The new 13-story building located just steps from the Journal Square Transportation Center opens with an impressive 160 of the 240 apartments already leased since pre-leasing started in lat
Jersey City, NJ — Palladium Management has secured an $11.425 million loan with lender Lakeland Bank for the development of a historic 62-unit rental building in Jersey City’s McGinley Square. “We are happy to be working with Lakeland Bank for the development of a truly unique and historically significant asset in an up-and-coming neighborhood in Jersey City,” said David Roth, principal of Palladium Management. Palladium will co-develop the property with its partners at Metro
JERSEY CITY, NJ — The New Jersey commercial real estate community wrapped up the first month of 2016 at the SaxBST Real Estate Industry Update. The January 26th networking and educational event at Maritime Parc in Jersey City was hosted by the firm’s Real Estate Industry Services Team and featured a panel of active leaders in real estate development, financing, tax and accounting.
Jeff Milanaik of CrownPoint Development Group and Bridge Development Partners moderated the ex
JERSEY CITY, NJ — Onyx Equities and Rubenstein Partners have launched a planned $16 million capital improvement program at 30 Montgomery St. in Jersey City. The 320,000 s/f, 15-story office tower sits in the heart of the city’s waterfront business district. Commercial real estate services firm Cushman & Wakefield serves as leasing agent for 30 Montgomery St. “The ownership has set out to position 30 Montgomery Street as Jersey City’s premier, boutique class A building,” said
Jersey City, NJ – NAI DiLeo-Bram & Co. announced that it represented the sale of 65-71 Monitor St. in Jersey City by Magyar Bank to Manhattan-based PE Real Estate Holdings.
The ½ acre of land sold for $1.75 million dollars and has “as of” rights to construct 51 residential units in the burgeoning new residential neighborhood adjacent to Liberty State Park and the Liberty Science Center. NAI DiLeo-Bram vice president Jeff Jones represents Magyar Bank on all commercial bank ow
JERSEY CITY, NJ —The One, Jersey City’s newest residential tower from the joint-venture partnership of BLDG Management Co., Inc., fund(s) managed by Ares Management, LP, and Urban Development Partners, is more than 55% leased after its grand opening less than two months ago. Located at 110 First St., the 36-story tower offers a mix of 439 studio, one- and two-bedroom apartments. "As demonstrated through this quickly-achieved leasing milestone, The One has been exceptionally w
JERSEY CITY, NJ — Holliday Fenoglio Fowler, L.P. (HFF) announced that it has closed the sale of 75 Park Lane and 2 Shore Dr. North, two residential development sites totaling 1.85 acres along the Hudson River waterfront in Jersey City. HFF marketed the sites on behalf of the seller. Strategic Capital purchased both properties. Shearman & Sterling LLP provided legal counsel to Strategic Capital during the transaction. The development sites are located in the Newport section o