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
Six-unit Jersey City rental building trades for $1.025 million, Cervelli says

A private investor has purchased a six-unit apartment building in Jersey City for $1.025 million, according to a brokerage team with Cervelli Real Estate & Property Management.

Residential & Mixed Use
Panepinto closes deal for Harborside parcels in Jersey City, advancing long-awaited plan for 1,257-unit development

Veris Residential Inc. has sold a Jersey City development site to Panepinto Properties for $75 million, in a deal arranged by Cushman & Wakefield, marking a key step in a plan to develop two high-rises with a combined 1,257 apartments and new amenities for the area.

Residential & Mixed Use
Inspired breaks ground on new luxury condos along Asbury Park coastline

Construction is underway on a project that will bring 112 condominiums to Asbury Park as one of the newest infusions of high-end housing along the city’s iconic shoreline.

Finance & Capital Markets
CBRE: Investor snags $36 million permanent loan after buying new Belleville rental property

The new owner of a 158-unit luxury apartment building in Belleville has closed on $35.5 million in permanent financing for the asset, brokers with CBRE announced Monday.

Residential & Mixed Use
Kislak: Renovated 10-unit rental property in Asbury Park fetches $2.3 million

A private investor has purchased a 10-unit apartment building in Asbury Park for $2.3 million, brokers with The Kislak Co. Inc. announced Monday.

Cover Story
Culture campus: Newark Museum update marks latest milestone as $100 million mixed-use project takes shape around it

New Jersey’s oldest museum has undergone a significant upgrade, solidifying its commitment to serve as a dynamic cultural hub for the region and beyond. It also is considered the cornerstone of the $100 million, blended-use project that’s poised to link two downtown neighborhoods.

Editor’s Note
Building momentum

The Museum Parc project is now taking shape around The Newark Museum of Art, as you’ll read in this month’s cover story, as a development team constructs two new buildings with a combined 250 mixed-income apartments, ground-floor retail and additional cultural spaces such as a vibrant, glass-enclosed gallery. The construction along Central Avenue is now about 50 percent complete, as anticipation builds for full delivery in early 2027.

Retail
Dim sum, dumplings eatery takes 3,700 sq. ft. at Taurasi Group’s Southend Hoboken project

A fast-growing dim sum concept is entering New Jersey with a newly announced location in Hoboken, joining the tenant roster at a high-profile mixed-use project by The Taurasi Group.

Residential & Mixed Use
Developer nears completion, eyes debut of 622-unit Journal Square rental tower

A major addition to the Jersey City skyline is nearing completion in the form of a 29-story, 622-unit luxury apartment tower that’s slated to hit the market in the coming months.

Finance & Capital Markets
JLL sources $62 million Freddie Mac loan for 541-unit Tower Management rental portfolio

Tower Management Service has secured $62 million in financing for a multistate, 541-unit apartment portfolio that includes four New Jersey properties, in a deal arranged by JLL.