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
NAI Hanson: South Orange development lot changes hands, slated for mixed-use project

A developer has acquired the former site of a bank branch in South Orange, brokers with NAI James E. Hanson said, citing plans for a new building with retail and residential space.

Government & Public Policy
Normandy closes on Jersey City, Hackensack projects under Opportunity Zone fund

Normandy Real Estate Partners has closed on two transactions under the federal Opportunity Zone program, as it touts a milestone in its effort to raise $250 million for such investments.

Residential & Mixed Use
Gebroe-Hammer touts $1.9 billion in 2019 sales, hailing ‘record-shattering’ year

Gebroe-Hammer Associates completed nearly $2 billion in multifamily sales in 2019, citing unrelenting demand from investors and continued momentum at the start of 2020.

Government & Public Policy
HMFA awards $22.5 million in tax credits, supporting 1,200 affordable units

State officials have awarded more than $22 million in new funding under a federal tax credit program for affordable housing developers, supporting 17 projects that will create some 1,200 units for families, seniors and residents with special needs.

Residential & Mixed Use
Newark apartment portfolio fetches $5.8 million, Kislak says

A four-building, 69-unit apartment portfolio in Newark has changed hands for nearly $6 million, following a newly announced transaction by The Kislak Co. Inc.

Residential & Mixed Use
Woodmont debuts 230-unit project in Roxbury, its latest luxury rental development

Woodmont Properties has opened the doors to an upscale, 230-unit apartment community in the Morris County township of Roxbury.

Residential & Mixed Use
Jersey City rental tower by Ironstate, KRE hits 80 percent leased milestone

Renters have leased more than 440 units in six months at a recently opened luxury apartment building in Jersey City, say co-developers Ironstate Development Co. and KRE Group.

Finance & Capital Markets
Kennedy inks $3 million loan for Bahamas developer

Kennedy Funding has closed a $3 million loan to the developer of a new residential community in the Bahamas, the Englewood Cliffs-based direct private lender announced Monday.

Residential & Mixed Use
Joint venture eyes January launch for 116-unit Rahway project

A development group is set to debut a new 116-unit luxury apartment building in Rahway, touting a location just minutes from the city’s NJ Transit rail station.

Cover Story
Russo Development is bullish on Kearny — and the ability to tap an underserved market

Russo Development has delivered more than 500 apartments in Kearny since mid-2018, with hundreds more in its pipeline, seeing an opportunity in a town that is minutes from downtown Newark and the ability to capture renters who are priced out of neighboring submarkets.