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.

Finance & Capital Markets
Developer lands $29 million in preferred equity for 568-unit rental portfolio in Bound Brook, Hackensack

The owner of a 568-unit apartment portfolio in Bound Brook and Hackensack has recapitalized the properties for $29 million, according to an advisory team with Berkadia.

Residential & Mixed Use
New 30-unit Fort Lee rental building trades for $17 million, Veerman says

A developer has sold a newly constructed, 30-unit apartment building in Fort Lee for $16.8 million, in a transaction arranged by Veerman Asset Management.

Features
Splendor’s growth in Red Bank, creative agency’s home since 2011, has gone hand in hand with robust commercial real estate practice

Commercial real estate clients have been critical to Splendor’s growth as a full-service creative agency, as have the firm’s own decisions about locating and growing its business in Red Bank.

People
Veteran real estate executive Kurtz named new Denholtz Properties CEO

Denholtz Properties has tapped Katie Kurtz as its new CEO, as longtime top executives Steven Denholtz and Stephen Cassidy move into new roles with the Red Bank-based firm.

Top News
NJPAC breaks ground on $336 million campus expansion with 350 rentals, arts education hub

Construction is set to begin on a long-awaited expansion of the New Jersey Performing Arts Center’s campus in Newark, part of a $336 million project that will bring 350 new apartments, office and retail space and a 58,000-square-foot arts education and community center.

Office
Hudson Atlantic opens new headquarters in Parsippany

Brokerage firm Hudson Atlantic has moved its headquarters to Parsippany, eyeing continued growth after launching the multifamily investment sales business in 2022.

Residential & Mixed Use
Developers join Jersey City leaders to tout new housing stock, resurgence in Bergen-Lafayette

The historic Bergen-Lafayette neighborhood in Jersey City took center stage last week as city officials marked the arrival of two new apartment buildings with a combined 208 units.

Real Estate NJ Owners Council
KRE Group launches leasing at 239-unit garden-style project in East Hanover

Kushner Real Estate Group has delivered the latest project in its portfolio of modern garden apartments, unveiling a 239-unit property at a well-known site in East Hanover.

Government & Public Policy
EDA approves $8 million tax credit for Atlantic City office-to-residential project

A developer has secured a key tax credit award for its plan to convert a historic office building in Atlantic City into 56 loft-style apartments and commercial space.

Residential & Mixed Use
Hartz welcomes residents as leasing surges at new 252-unit Weehawken rental property

Renters are flocking to Hartz Mountain Industries’ latest luxury apartment building in Weehawken, a 232-unit property just north of the Hoboken border.