Landlords in New Jersey often handle issues concerning how much information they are required to disclose to their tenants. It is oftentimes a landlord’s position that the imposition of disclosure duties, particularly on residential landlords, is unreasonably burdensome – and in some cases, it may be. Landlords must keep in mind, however, that the disclosure duty cannot be ignored. Failure to disclose pertinent information could expose landlords, and in particular residential
Fast Orange/Newark, NJ — The dynamic revival at the Crossroads of New Jersey – where East Orange and Newark converge – is energizing multi-family investment velocity and sales benchmarks throughout these two cities where Gebroe-Hammer Associates recently arranged three separate sales totaling $31.7 million for four buildings and 245 units. David Oropeza, executive managing director, spearheaded the sales, which involved the trade of 26 units at 742 Park Ave., in East Orange a
Luxury Hudson County multifamily sale follows 2013
North Bergen, NJ — The Kislak Company, Inc. announced the recent sale of Plaza 53, a new luxury multifamily property, for $25.4 million. The transaction represented the completion of the development of a 2.32-acre parcel, the sale of which Kislak also handled in 2013 for $3.6 million. The total sale price was $29 million.
Senior vice president Scott Davidovic represented the seller and developer, 1122 53rd Street Urban Renewal LLC, and president Robert Holland represented th
Newark, NJ — Marcus & Millichap announced the sale of Spring Street Commons, a 43,860 s/f of land located in Newark for $4 million according to Brian Hosey, regional manager of the firm's New Jersey office.
Carlos Zapata, investment specialists in Marcus & Millichap's New Jersey office, had the listing to market the property on behalf of the seller, a developer.
Spring Street Commons is located at 73-87 Clay St. in Newark. The land is fully approved for 84 residential units
Talk of the impending “retail apocalypse” and announcements of store closings continuously in the news may simply be a sign of the times, or an indication shopping center owners are missing the big picture when it comes to structuring their tenant mixes. ICSC’s Improving Tenant Mix report states the two key elements in a viable tenant mix are the anchor and in-line tenants. The strength of the anchor is the most defining characteristic of a successful shopping center, as it i
OLD BRIDGE, NJ — R.J. Brunelli & Co., LLC announced the recent completion of a series of leases that will introduce national, regional and local retailers, restaurants and personal service providers to sites across NJ.
In its role as Dollar Tree’s real estate representative statewide, R.J. Brunelli brokered four additional leases for sites in norther, central and southern NJ. In Morris County, Dollar Tree is anticipated to open this June in a 10,113 s/f endcap space at Mo
UPPER MARLBORO, MD AND WHARTON, NJ — Avanath Capital Management, LLC, a private real estate investment manager and registered investment adviser, has acquired three multifamily properties totaling 311 units for a combined consideration of $38.08 million.
The firm acquired Largo Center, a 100-unit family housing community for $14.3 million and Vistas at Lake Largo, a 110-unit senior housing community for $15.03 million, both in Upper Marlboro, MD. Avanath Capital also acquire
Irvington, NJ — The Kislak Company, Inc. announced the recent sale of a seven-building portfolio in Irvington with 184 residential units, six stores and one income-producing antenna for $17.8 million.
The properties are located at 2-10 Wagner Pl.; 38-40 Chester Ave.; 979-983 Clinton Ave.; 494 Stuyvesant Ave.; 780-86 Lyons Ave.; 51 Linden Ave.; and 26-28 Chester Ave.
Senior vice president Joni Sweetwood represented the seller and procured the purchaser. The sale marked both
Livingston, NJ — It seems nothing – not even the unpredictable weather in Q1 2018 – could dampen multi-family investment velocity for the Livingston, NJ-based brokerage firm Gebroe-Hammer Associates, which recorded a total of 23 deals totaling 2,438 units sold for a combined $340.54 million to close out the first three months of the year. During the quarter, the firm’s multi-family market specialists had the highest concentration of sales in New Jersey’s Hudson and Essex coun
JERSEY CITY, NJ — Ironstate Development Company, long known for transforming Downtown Jersey City with iconic residential towers, is expanding its efforts west of the waterfront to the City’s Lafayette neighborhood where a burgeoning renaissance continues to build momentum. The Hoboken-based real estate firm broke ground, April 10th 2018, with joint venture partners Brookfield Property Group and Landmark Developers on a new 309-unit luxury rental building. The mixed-use proje
NEWARK, NJ — Construction has reached the mid-way point at Paramount Assets’ William Flats, a luxury multifamily rental property in Newark. Located at 869 Broad St.– between Teachers Village and Prudential Center in the heart of the city’s historic Four Corners neighborhood – the redevelopment centers on the adaptive reuse of the former United Women’s Garment Workers’ Union headquarters property.
Paramount Assets is transforming the building into 37 luxury apartments along
JERSEY CITY, NJ — Fisher Development Associates announced today that Vantage, its new luxury rental high-rise in downtown Jersey City has received LEED certification from the U.S. Green Building Council (USGBC).
Located at 33 Park View Avenue, the 45-story waterfront building achieved LEED certification for implementing practical and measurable strategies and solutions aimed at achieving high performance in: sustainable site development, water savings, energy efficiency, an
The commercial and industrial real estate market in New Jersey is healthy and currently growing. Due to the lack of developable land and the strong economy in the state, developers are now looking to develop brownfield properties that are usually passed over due to environmental concerns. The need for brownfield sites to be developed into residential, commercial and industrial buildings is being driven by two trends: the desire people have to live near urban areas and the nee
EDISON, NJ, — Zimmel Associates reports recent deals. “As a company, we have been extremely active in the industrial market and are seeing good opportunity for tenants in the office market,” said Jordan Zimmel, vice president, Zimmel associates. Recent deals at the firm include:
Jordan Zimmel arranged a 15-year lease of 22,128 s/f at One Murray Rd., East Hanover, NJ, to Central Jersey Volleyball Academy. “This type of business requires high ceilings and clear span space with
NEW YORK, NY — Holliday Fenoglio Fowler, L.P. (HFF) announced 16 financings totaling $663 million secured by 15 class A retail properties and one industrial property totaling 4.6 million square feet in New York and New Jersey.
The HFF team worked on behalf of the borrower, Urban Edge Properties, to secure the 16 separate loans with two CMBS lenders, three life company lenders and one bank. The loans include 14 fixed- and two floating-rate facilities with terms ranging from
In our new digital age with sophisticated smart devices and high-quality transmission technology, we now have the capabilities to push through profound changes within the healthcare industry that will benefit both patients and health care providers while ensuring the same standard of care.
On July 21, 2017 Governor Chris Christie signed into law Senate Bill S291, authorizing New Jersey health care providers to offer telemedicine services to patients in New Jersey. According
Northern NJ, Southern CA and South FL — Bridge Development Partners, LLC (Bridge) has announced an agreement to sell a 10-building industrial portfolio totaling 3,424,732 s/f to Duke Realty Corp. for $515 million. Each of the assets are newly constructed state-of-the-art facilities in the nation’s top infill industrial markets of Northern NJ, Southern CA and South FL. The transaction will be completed in phases, with the first and second phases having closed on September 27th
The New Jersey Appellate Division recently held that the Brownfield and Contaminated Remediation Act's eligibility requirements for innocent party grants are flexible enough to include intra-family trust transfers to an entity that, strictly speaking, is not the same "person" who acquired the property before the statutory deadline.
The unpublished opinion in Cedar Knolls 2006, LLC v. New Jersey Department of Environmental Protection is significant in that by examining the de
HF Planners, LLC
Years with company/firm: 18
Years in field: 30
Real estate affiliations: NJ IFMA,
LEED AP+BD-C, NCIDQ What was your greatest professional accomplishment in 2017?
Being recognized as a 2017 Top 25 Leading Woman Entrepreneur by the Leading Women Entrepreneurs and Business Owners Network. (http://blog.nj.com/leading_women_entrepreneurs/2017/05/the_top_25_leading_women_annou.html) To be identified with the other esteem leaders is
East Brunswick, NJ — WithumSmith +Brown, PC (Withum) a certified public accounting and advisory firm, has completed the relocation of over 150 employees from its New Brunswick-based office to 1 Tower Center Blvd., East Brunswick. The top-30 nationally ranked firm concluded a comprehensive sustainable buildout of its new 46,234 s/f first-class office space by incorporating recycled content and diverting 34,873 pounds of construction waste from landfills.
According to John Mor