Residential & Mixed Use

The construction boom in New Jersey is no more evident than in the multifamily and mixed-use sector, thanks to changing demographics and the demand for urban-style living, even in the suburbs.

Residential & Mixed Use
Investor buys 58-unit East Orange rental building for $8 million, ICON says

The longtime owner of a 58-unit apartment building in East Orange has sold it for nearly $8 million, in a newly announced deal by ICON Real Estate Advisors.

Finance & Capital Markets
Valley closes $15 million construction line of credit for 78-unit Bayonne rental project

The developer of a 78-unit multifamily project in Bayonne has closed on a $15 million construction line of credit with Valley Bank, the lender announced last week.

Government & Public Policy
Extending a hand to Solomon, Jersey City landlords call for more housing to solve budget, affordability woes

Following a contentious campaign, the Jersey City Apartment Owners Association said it was eager to work with new Jersey City Mayor James Solomon, reaffirming its belief that the best way to solve the city’s budget and affordability crises is to build more housing.

Government & Public Policy
NJBA, NJBIA file appeal to stop Murphy-backed flood elevation rules for development

Two top business groups are going to court to block controversial land use and flood protection rules adopted on Gov. Phil Murphy’s last day in office, stepping up their defense against a program that they’ve long said will cripple development throughout the state.

Residential & Mixed Use
Kislak: Private investor buys new 18-unit North Bergen apartment building for $6.8 million

An 18-unit luxury apartment building in North Bergen has changed hands for nearly $6.8 million, in a newly announced deal by The Kislak Co. Inc.

Residential & Mixed Use
JLL: Buyer wanted for newly completed 507-unit senior housing property in Cherry Hill

The owner of a 507-unit senior housing community in Cherry Hill has listed it for sale following its recent completion of the high-profile development project.

Professional Services
Wickner Realty debuts tech-driven third-party management firm

Wickner Realty Development Corp. has launched a new third-party management affiliate that will combine its own experience with what it described as the latest technologies.

Finance & Capital Markets
Russo lands construction loan for 198-unit rental project in Belmar, Cushman says

Russo Development has secured construction financing for a project that will bring 198 new apartments to Belmar’s seaport district, brokers with Cushman & Wakefield announced.

Residential & Mixed Use
Cervelli: Six-unit Jersey City rental building trades with ‘immediate’ value-add potential

A longtime apartment owner in Jersey City has added a six-unit building in the Bergen-Lafayette neighborhood, in a deal arranged by Cervelli Real Estate and Property Management.

Top News
Russo details plan for new Paramus headquarters, breaks ground on Rahway rental project (SLIDESHOW)

Russo Development has started construction on its new 45,000-square-foot headquarters in Paramus, hailing the project as a new chapter in its nearly 50-year history as it looks to modernize its workspace and support its sprawling portfolio.