A private investor has sold a six-unit apartment building in Newark’s popular Ironbound section, in a newly announced deal by Cervelli Real Estate & Property Management.
Market Sectors
New Jersey has an unmatched location and a population that developers dream about. It’s no wonder the commercial real estate industry is flourishing and evolving across all segments of the market.
Waterfront reboot
As you’ll read in this month’s cover story, 601W Cos. is drawing on that experience as it prepares to reposition the 2 million-square-foot Harborside property, which it acquired earlier this year from Veris Residential Inc. for a whopping $420 million. Its plans include the addition of important but notably absent amenities such as a fitness center, a conference center and a tenant lounge, as well as a 10,000-square-foot rooftop deck that will provide uninterrupted views of Manhattan. That vision will take shape in the months ahead as 601W looks to meet the demand for dynamic, upscale spaces despite unease within the office market — with the belief that the best is still to come for Jersey City.
