Cushman & Wakefield Arranges JV Equity for Multifamily Development in Bayonne, New Jersey

BAYONNE, N.J. — Cushman & Wakefield, on behalf of Baker Residential, has arranged a joint venture with Woodmont Properties to develop a multifamily property at 190 W. 54th St. in Bayonne. Woodmont acquired a majority stake in the venture. Construction is underway with completion slated for spring 2019. Located adjacent to the 40-acre Richard A. Rutkowski Park, the property will feature 220 market-rate units, views of Manhattan and The Port of Newark, covered parking, a community pool, landscaped courtyards, a rooftop terrace, a club room, a fitness center, a pet spa and direct access to the park. John Alascio, Brian Whitmer, Sridhar Vankayala and Gloria Aboagye-Agyeman of Cushman & Wakefield represented Baker Residential in the transaction.