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.

Office
Shifts in workplace, demographics in focus at Roche site redevelopment forum

Local residents were among those who turned out this week for a forum tied to Prism Capital Partners’ plans for the former Hoffmann-LaRoche campus in Nutley and Clifton, as the developer sought to highlight the shifts in demographics, corporate strategy and lifestyle choices that are now driving New Jersey’s economy.

Residential & Mixed Use
Kislak: East Orange properties fetch $13 million

A private investor has paid nearly $13 million to acquire two multifamily properties in East Orange, including an 88-unit brick building and a 44-unit garden complex.

Residential & Mixed Use
Cranford townhomes sell for $3.4 million, Gebroe-Hammer says

A complex of 10 townhomes has changed hands in Cranford, in a $3.4 million transaction arranged by brokers with Gebroe-Hammer Associates.

Government & Public Policy
HMFA announces new round of tax credits to fund 1,400 affordable units

A state agency is set to fund the construction of some 1,400 low- and moderate-income apartments in the state, thanks to a new allocation of a popular federal subsidy program.

Residential & Mixed Use
Leasing underway at 334-unit Prism project in West Orange

Prism Capital Partners has launched leasing at its new 334-unit apartment community in West Orange, the centerpiece of what it says is the state’s largest non-waterfront adaptive-reuse project.

Events
NAIOP reveals deal of the year finalists for 2018 gala

NAIOP New Jersey has unveiled the finalists for its coveted Deal of the Year awards, a group that includes eight of the state’s most high-profile transactions of 2017.

People
Advance hires new senior associate of asset management

The New Jersey Center of Excellence in Bridgewater — Courtesy: Advance Realty By Joshua Burd Advance Realty has continued its recent flurry of hiring with an addition to its asset management team. The Bridgewater-based developer said Thursday that it had…

Finance & Capital Markets
Plainsboro apartment deal cracks top 20 in national ranking of 2017 investment sales

The Kushner Cos.’ acquisition of a garden apartment complex near Princeton was not only the state’s largest single-asset deal of 2017, but among the top 20 nationwide in a newly released list of multifamily investment sales.

Residential & Mixed Use
The truth about tax reform: A deeper look at the impact on commercial real estate

By Joshua Burd For all the buzz and political rhetoric surrounding federal tax reform, Jeff Otteau points to a consequence of one key change that has largely flown under the radar. For decades, homeowners have been better equipped to reduce…

Cover Story
A rebound for investment activity

When it came to commercial real estate, many investors had likely felt that property values had peaked in 2016, that the bull run was ending and the economy was due for a pullback. Those are among the reasons that Jeff Otteau feels overall investment sales in New Jersey fell last year to $6.5 billion, from $8.3 billion in 2016, while activity also slowed in New York City. Yet that trend could be in store for a reversal as a result of the newly amended tax code, which has preserved and added to the benefits given to real estate investors.