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JERSEY CITY, N.J. — JLL has negotiated the $54 million sale of a 1.7-acre multifamily development site located at 107 Morgan St. in Jersey City. The site is approved for the development of 650 apartments and ground-floor retail space. Jose Cruz, Ryan Robertson, Michael Oliver, Steve Simonelli and Elizabeth DeVesty of JLL represented the seller, Veris Residential, in the transaction. The team also procured the buyer, locally based developer LCOR. A timeline for completion was not disclosed.