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
Developer set for spring groundbreaking for 43-unit Guttenberg rental project

A joint venture is planning a spring groundbreaking for a project that will bring 43 new apartments to the small town of Guttenberg in Hudson County.

Retail
Katz & Associates promotes New Jersey-based broker to vice president

Katz & Associates has announced a series of promotions to start the year, including one in the brokerage firm’s home office in Englewood Cliffs.

Professional Services
Greenbaum’s Mlenak elected V.P. of Community Associations Institute N.J. chapter

A top redevelopment and land use attorney with Greenbaum Rowe Smith & Davis LLP has been elected vice president of the Community Associations Institute’s New Jersey chapter.

Government & Public Policy
Murphy calls for expanding liquor licenses in New Jersey, making pitch for long-stalled reform

A long-awaited reform to New Jersey’s liquor license laws could be coming soon, as indicated Tuesday by Gov. Phil Murphy, who cast the overhaul as a top priority during his State of the State address and previewed a plan to tackle the hot-button issue.

Finance & Capital Markets
Procida closes $21 million construction loan for Kearny multifamily project

Procida Funding has originated a $20.5 million construction loan to the owner of a multifamily development site in Kearny, where plans call for a project with 69 apartments.

Residential & Mixed Use
Hudson Atlantic touts strong 2022, inking $293 million in sales spanning 1,300 apartments

Hudson Atlantic Realty recorded more than $293 million in closings in 2022, its first full year in business, having completed 18 deals spanning more than 1,300 apartments.

Government & Public Policy
Murphy signs bill to allow third-party code inspections, drawing cheers from real estate industry

Gov. Phil Murphy has signed into law a bill that aims to speed up construction permitting in New Jersey, allowing developers to hire private-sector code inspectors if local officials cannot complete a review within three business days of a requested date.

Finance & Capital Markets
Developer of 300-unit Livingston rental project lands $127 million debt, equity package

A developer has secured nearly $127 million in debt and equity for a plan to build 300 new apartments off Route 10 in Livingston, in a set of newly announced deals by JLL.

Finance & Capital Markets
JLL: Developers ink $20 million construction loan for 53-unit Millburn rental project

A development team has landed $20 million in construction financing for a new 53-unit luxury apartment building in downtown Millburn, brokers with JLL announced Wednesday.

Residential & Mixed Use
Apartment owner sells 30-unit Bound Brook property for $4.9 million, Berkadia says

The longtime owner of a 30-unit garden apartment complex in Bound Brook has sold the property for nearly $5 million, in a recent deal by Berkadia’s New Jersey team.