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
Paramus tract slated for 162-unit luxury senior housing project sells for $9.25 million

A developer has acquired nearly 10 acres in Paramus with approvals in place for 162 age-restricted apartments, according to a brokerage team with Hudson Atlantic Realty.

Residential & Mixed Use
Veerman inks $6.35 million sale of historic but renovated 22-unit rental building in Boonton

A historic 22-unit apartment building in Boonton has changed hands for nearly $6.4 million, in a transaction arranged by Veerman Asset Management.

People
Petrucci welcomes Boone, former intern, as full-time marketing coordinator

Zoe Boone has joined J.G. Petrucci Co. Inc. as its marketing coordinator, securing a full-time role after interning with the Asbury-based developer and design-build firm.

Finance & Capital Markets
Hopkins Group scores $35 million financing deal for 50-unit Jersey City project, CBRE says

A developer has landed nearly $35 million in financing for a plan to bring 50 new apartments with ground-floor retail space to downtown Jersey City, according to brokers with CBRE.

Professional Services
JLL capital markets group promotes multifamily experts Didio Jr., Quinn and DeVesty

JLL has promoted Thomas Didio Jr., Gerard Quinn and Elizabeth DeVesty of its Morristown-based capital markets team, touting their role in the firm’s surging pipeline of multifamily deals.

Residential & Mixed Use
Marcus: Legacy family owners sell 21-unit Jersey City apartment building for $4.1 million

The longtime owners of a 21-unit apartment building in Jersey City have sold the property for $4.1 million, in a newly announced deal by Marcus & Millichap.

Residential & Mixed Use
Bayonne apartment owner adds eight-unit building in $1.6 million deal by Matthews

A local investor has acquired an eight-unit apartment building in Bayonne for more than $1.6 million, in a transaction arranged by Matthews.

Education
ULI’s acclaimed UrbanPlan program comes to Morris County in new, condensed format to reach more students

Students at Morris County School of Technology in Denville received a crash course in urban planning, courtesy of the Urban Land Institute Northern New Jersey, as the organization debuted a shorter version of its nationwide UrbanPlan program over two days in December.

Government & Public Policy
Sherrill taps Weiss to lead EDA, Potosnak as DEP commissioner

Gov.-elect Mikie Sherrill has filled two key posts impacting commercial real estate, naming Evan Weiss as CEO of the New Jersey Economic Development Authority while nominating Ed Potosnak as commissioner of the Department of Environmental Protection.

People
Osborne joins Gottesman as vice president in role focused on asset management

Gottesman Real Estate Partners has hired Steven Osborne as a vice president, bolstering the team supporting its portfolio of commercial and residential properties across four states.