Six penthouses have hit the market at a new high-end condominium building in Asbury Park, including a top-floor, four-bedroom unit with an asking price of nearly $6 million.
As developers continue to invest in downtown Newark, the city is attracting both new residents and businesses. That makes it all the more important to create amenities and spaces that will bring permanent foot traffic during the day and at night, which has become a growing focus for both public- and private-sector leaders in the state’s largest city.
Prism Capital Partners has completed its 100th lease at a historic Thomas Edison factory complex in West Orange, where it has completed construction on 300 luxury loft apartments as the centerpiece of a high-profile adaptive reuse project.
Mack-Cali Realty Corp. has agreed to sell a 56-building, 3.1 million-square-foot office and flex portfolio for nearly $490 million, which it will use to pay down debt and fund its purchase of a Jersey City apartment building.
A joint venture is off to a fast start at a new 236-unit luxury rental property in Weehawken, having leased nearly 60 apartments in only a month.
A developer has teamed with a New York-based finance firm to launch a new Opportunity Zone fund platform, with a focus on mixed-use projects in central New Jersey.
Woodmont Properties has hired a veteran industry executive to lead its newly formed senior housing division, touting an opportunity in the niche residential sector.
With 2019 underway, competition among commercial real estate investors has only intensified in New Jersey, largely around properties that offer some level of safety in the later stages of the economic expansion.The Garden State is by no means alone in that regard, but brokers and other experts say they expect demand to stay robust in the near term, citing everything from Wall Street volatility to the continued arrival of buyers from other markets.
The developer of a new condominium project in Long Branch is more than halfway through construction, having sold 40 percent of the complex’s 47 oceanfront homes.