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
Apartments in West New York, Bayonne trade for $3.55 million

Two apartment buildings in Hudson County have changed hands for a combined $3.55 million, following investment sales brokered by Marcus & Millichap.

Finance & Capital Markets
Meridian: Buyer wanted for prime 486-unit development site in Jersey City

Brokers with Meridian Capital Group are marketing what they say is a rare opportunity — a development site in Jersey City with approvals for nearly 500 apartments.

Editor’s Note
A growth industry in the making

Insiders say that now is the time to discern which municipalities will be receptive to the prospect of legalized recreational cannabis, if and when it becomes a legal industry in New Jersey. That prospect is likely many months from being a reality, if not more, but the concept has the support of Gov. Phil Murphy and several well-known lawmakers.

Residential & Mixed Use
Camden rental building among $445 million portfolio sale by Dranoff

Dranoff Properties is selling a well-known luxury apartment building in Camden as part of a six-building, $445 million portfolio sale announced Tuesday.

Finance & Capital Markets
Progress Capital brokers $5.3 million loan for Newark multifamily deal

An area property owner has acquired a two-building, 70-unit apartment complex in Newark with more than $5 million in financing arranged by Progress Capital Advisors.

Residential & Mixed Use
Redevelopment brings first phase of Woodbridge affordable housing project

Builders have delivered 84 apartments as part of a $23 million affordable housing development in Woodbridge, the first of a three-phase project that is replacing a defunct public housing complex.

Office
Mortgage banker, child care among latest tenants at Marlton redevelopment

Two new tenants have committed to a 540,000-square-foot, mixed-use property in Marlton, where its owner is in the midst of a $70 million redevelopment project.

Residential & Mixed Use
North Bergen apartment building sells for $25.4 million

The developer of a newly built, 122-unit apartment building in North Bergen has sold the property for $25.4 million, in a sale brokered by The Kislak Co. Inc.

Government & Public Policy
New Jersey Future announces 2018 Smart Growth Award winners

The nonprofit New Jersey Future will honor major redevelopments in Hoboken, Orange and Trenton, as well as former Gov. James Florio, as part of its annual Smart Growth Awards celebration in early June.

Events
Monmouth students offer vision for Roche site, win top prize at NAIOP competition

A team of Monmouth University students earned top honors recently at NAIOP New Jersey’s annual Intercollegiate Case Study Competition, offering a vision for redeveloping the former Hoffmann-LaRoche campus in Nutley and Clifton.