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
Eight-unit apartment building in Union City trades for $1.2 million, Cervelli says

An investor has acquired an eight-unit apartment building in Union City for $1.2 million, according to a brokerage team with Cervelli Real Estate & Property Management.

Finance & Capital Markets
Kennedy Funding inks $1.6 million loan to bring much-needed housing to Maine’s South Coast

Kennedy Funding has closed a $1.633 million loan to the developer of what will be 13 single-family homes in southern Maine, the Englewood-based lender announced Friday.

Residential & Mixed Use
Kushner breaks ground on 280-unit rental project at ex-Westminster Hotel site in Livingston

Kushner has broken ground on its redevelopment of the former Westminster Hotel in Livingston, where it’s planning two new apartment buildings with a combined 280 units.

Residential & Mixed Use
Sagard eyes value-add renovation plan after buying 116-unit Morris Plains rental property

Sagard Real Estate has acquired a 116-unit apartment property in Morris Plains, with plans to renovate more than three-quarters of the homes while updating amenities and common spaces.

Residential & Mixed Use
NAI Hanson: Hackensack portfolio with eight apartments, two retail units sold for $1.8 million

A private investor has acquired two mixed-use buildings in downtown Hackensack for a combined $1.8 million, in a newly announced deal by NAI James E. Hanson.

Residential & Mixed Use
Canoe Brook debuts 220-unit luxury rental property in Warren, filling a key housing need

Canoe Brook Development has unveiled a collection of 220 luxury apartments in Warren, delivering the township’s first large-scale rental property to a site just off Interstate 78.

Education
Students tour new Russo, Hero Development projects to cap off ULI’s UrbanPlan program in East Brunswick, East Orange schools

The developers of new apartment buildings in New Brunswick, East Brunswick and East Orange welcomed students to the properties recently as part of an Urban Land Institute program that exposes high schoolers to commercial real estate planning and construction.

People
Doyle joins Red Bank-based Denholtz as human resources director

Denholtz has hired Kira Doyle as its new director of human resources, adding a seasoned professional in the space to support its growing team.

Residential & Mixed Use
Marcus: Buyer wanted for approved 2,400-unit development site in downtown Newark

The owner of a high-profile development site in Newark — where city officials have approved plans for more than 2,400 new residential units — has put the property on the market.

Finance & Capital Markets
Developer inks $81 million refi of new 200-unit rental property in Jersey City, C&W says

The owner of a new 200-unit luxury apartment building in Jersey City has refinanced the property for $81 million, brokers with Cushman & Wakefield announced Tuesday.