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.

Editor’s Note
Growth story

As you’ll read in this month’s cover story, Accurate has been prolific in filling its development pipeline, moving decisively to secure new projects in the state and elsewhere. It now has construction underway, approvals in place or sites under control to build another roughly 6,400 apartments and townhomes, including more than 4,000 units in Newark, where it’s leading the sweeping redevelopment of the former Riverfront Stadium property.

Professional Services
Eider promoted to vice president investments with Marcus & Millichap

Marcus & Millichap has promoted one of its leading brokers in New Jersey to the position of vice president investments.

Finance & Capital Markets
Saxum lands $78 million construction loan for Philly rental project, in JLL-brokered deal

Saxum Real Estate has closed on nearly $78 million in financing for the first piece of what will be 466 new luxury apartments in Philadelphia’s growing Northern Liberties neighborhood.

Finance & Capital Markets
Park Stone, Fields Grade ink $37 million refi of new 99-unit Journal Square rental building

The developers of a new 99-unit luxury apartment building in Jersey City’s fast-growing Journal Square neighborhood have refinanced the property for $37 million.

Residential & Mixed Use
North Bergen condo developer touts $2 million penthouse sale among eight new closings

A new luxury condominium building in North Bergen is now more than 35 percent sold after a flurry of recent activity, including the $2 million sale of a three-bedroom penthouse.

Residential & Mixed Use
Investor buys 80-unit Bergen County apartment complex for $20 million, Gebroe-Hammer says

The longtime owner of an 80-unit garden apartment complex in Bergen County has sold the property for nearly $20 million, according to brokers with Gebroe-Hammer Associates.

Residential & Mixed Use
Atlantic City: Design team touts upgrades at 153-unit affordable housing portfolio

The owner of three affordable housing properties in Atlantic City has unveiled a major renovation of the 153-unit portfolio.

Residential & Mixed Use
Belgiovine sworn in as NJBA president, helming five-member executive board

The New Jersey Builders Association has installed its new executive board, including a 45-year construction and real estate industry veteran as its president for the next 12 months.

Residential & Mixed Use
New boutique Hudson County apartment building fetches $400,000 per unit, Kislak says

A developer has sold a recently completed, 13-unit apartment building in West New York for more than $400,000 per unit, in a newly announced deal by The Kislak Co. Inc.

Professional Services
Cervelli makes key additions to property management, sales teams

Cervelli Real Estate and Property Management has made three personnel moves to support its growing business in Hudson County and beyond.