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Harborside-9-Jersey-City
AcquisitionsDevelopmentMultifamilyNew JerseyNortheast

GN Management Buys Multifamily Development Site in Jersey City, Plans 57-Story Tower

by Taylor Williams

JERSEY CITY — Locally based investment and development firm GN Management has acquired a multifamily development site in Jersey City with plans to construct a 57-story tower. The waterfront site is known as Harborside 9 and is approved for the development of 579 units, as well as 14,800 square feet of retail and a 555-space parking garage. Fifteen percent (87 residences) will be set aside as affordable housing. Information on floor plans and amenities was not disclosed. Jim Pompa of Coldwell Banker brokered the sale of the site from Panepinto Properties, which recently closed on financing for a 678-unit multifamily project at Harborside, to GN Management. Construction is targeted for a 2027 commencement.

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Harborside-8-Jersey-City
DevelopmentLoansMultifamilyNew JerseyNortheast

JLL Arranges $384M in Financing for Jersey City Multifamily Project

by Taylor Williams

JERSEY CITY, N.J. — JLL has arranged $384 million in financing for the land purchase and vertical construction of Harborside 8, a 678-unit multifamily project in Jersey City. The borrower is a partnership between Panepinto Properties and AJD Construction. The financing consists of a $306 million, floating-rate senior loan from Kennedy Wilson and a $78 million preferred equity investment from Affinius Capital. Harborside 8 will be a 65-story waterfront building with studio, one-, two- and three-bedroom apartments. Amenities will include a fitness center, indoor pool, golf simulator, rooftop terraces, coworking rooms and a wine bar. Thomas Didio, Thomas Didio Jr., Ryan Robertson, Gerard Quinn and John Cumming led the transaction for JLL. Construction is scheduled to begin early next year, with stabilization targeted for early 2030.

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AcquisitionsIndustrialNew JerseyNortheast

Cushman & Wakefield Brokers Sale of 123,821 SF Industrial Portfolio in Northern New Jersey

by Taylor Williams

MAHWAH AND FAIRFIELD, N.J. — Cushman & Wakefield has brokered the sale of a portfolio of two industrial buildings totaling 123,821 square feet in Northern New Jersey. The first building is a 67,170-square-foot structure in Mahwah that was fully leased at the time of sale to Beacon Roofing Supply. The second building is a 56,651-square-foot facility in Fairfield that houses the headquarters of Precision Textiles. Gary Gabriel, Kyle Schmidt, Ryan Larkin and Seth Zuidema of Cushman & Wakefield represented the seller, Alexander Properties Group, in the transaction. The buyer was Faropoint.

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AcquisitionsMultifamilyNew JerseyNortheast

Kislak Negotiates $11M Sale of Northern New Jersey Apartment Complex

by Taylor Williams

BLOOMFIELD, N.J. — Local brokerage firm The Kislak Co. Inc. has negotiated the $11 million sale of Franklin Towers, a 63-unit apartment complex located in the Northern New Jersey community of Bloomfield. The six-story historic building was originally constructed in 1928 and offers 56 one-bedroom units, five two-bedroom apartments and two three-bedroom residences. Robert Holland and Tom Scatuorchio of Kislak represented the seller and procured the buyer, both of which were limited liability companies, in the transaction.

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AcquisitionsCivicNew JerseyNortheast

Marcus & Millichap Brokers $7.3M Sale of Apple Montessori School in Washington, New Jersey

by Taylor Williams

WASHINGTON, N.J. — Marcus & Millichap has brokered the $7.3 million sale of the Apple Montessori School in Washington, about 60 miles west of New York City. The newly constructed, 10,000-square-foot school features an outdoor pool, approximately 5,000 square feet of dedicated playground space and a covered drop-off area. Alan Cafiero, David Cafiero and John Moroz of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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100-200-Princeton-South-Corporate-Center
AcquisitionsNew JerseyNortheastOffice

JLL Brokers Sale of Two Office Buildings Totaling 267,830 SF in Ewing, New Jersey

by Taylor Williams

EWING, N.J. — JLL has brokered the sale of 100 and 200 Princeton South Corporate Center, a pair of office buildings totaling 267,830 square feet in Ewing, located just outside of Trenton. The four-story buildings were completed between 2007-2008 as part of a larger, six-building campus and were 52 percent leased at the time of sale to tenants in industries such as finance, insurance, accounting, pharmaceutical and healthcare. Jose Cruz, Jeremy Neuer, Michael Kavaler and Tom Romano of JLL represented the undisclosed, institutional seller in the transaction. The buyer was Hilton Realty Co.

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Bridge-Point-Piscataway
IndustrialLoansNew JerseyNortheast

PPM America Provides $27.1M Bridge Loan for Northern New Jersey Warehouse

by Taylor Williams

PISCATAWAY, N.J. — PPM America Inc. has provided a $27.1 million bridge loan for a 147,210-square-foot warehouse in the Northern New Jersey community of Piscataway. The borrower is Bridge Industrial, and the facility is known as Bridge Point Piscataway. Situated on a 12.8-acre site at 10 Constitution Road, the building features a clear height of 36 feet, 41 dock-high doors, two drive-in doors, 3,000 square feet of office space and parking for 118 cars and 57 trailers. Michael Klein, Jon Mikula and Kevin Badger of JLL arranged the loan.

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AcquisitionsNew JerseyNortheastRetail

Marcus & Millichap Brokers $7.8M Sale of Retail Strip Center in Union City, New Jersey

by Taylor Williams

UNION CITY, N.J. — Marcus & Millichap has brokered the $7.8 million sale of a 22,000-square-foot retail strip center in the Northern New Jersey community of Union City. The center was fully leased at the time of sale to a pharmacy, laundromat and a physical therapy user. Alan Cafiero, Brent Hyldahl and Devin Perez of Marcus & Millichap represented the seller in the transaction. The team also procured the buyer in conjunction with Marcus & Millichap’s Dean Matuszewicz. Both parties requested anonymity.

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IndustrialLeasing ActivityNew JerseyNortheast

Resource Realty Secures 15,005 SF Industrial Lease in East Hanover, New Jersey

by Taylor Williams

EAST HANOVER, N.J. — Resource Realty of Northern New Jersey (RRNNJ) has secured a 15,005-square-foot industrial lease in East Hanover, about 25 miles west of New York City. The tenant, Tri-State Cleaning and Restoration, will occupy space at 906 Murray Road, which is located within the 1.2 million-square-foot Ridgedale Industrial Park. Tom Consiglio and Scott Peck of RRNNJ represented the undisclosed landlord in the lease negotiations. Brian Wilson, also with RRNNJ, represented the tenant.

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AcquisitionsMultifamilyNew JerseyNortheast

HarborPoint Residential Buys Apartment Complex in Metuchen, New Jersey, for $8M

by Taylor Williams

METUCHEN, N.J. — HarborPoint Residential has purchased a 22-unit apartment complex in the Central New Jersey community of Metuchen for roughly $8 million. The building at 22 Center St. is located in the downtown area and comprises 19 market-rate units and three affordable units. Amenities include a gym, storage lockers and a rooftop terrace. The DiOrio Commercial Team at Berkshire Hathaway HomeServices Fox & Roach’s Commercial Division represented the seller and developer, Ramani Group, in the deal.

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