Plans for 136 Delaware Ave. in Jersey City call for a five-story building with 54 apartments. — Rendering courtesy: Investment Property Realty Group
By Joshua Burd
A developer has acquired a parcel in Jersey City with approvals in place for a new 54-unit apartment building, in a newly announced deal by Investment Property Realty Group.
The brokerage team said the tract, located at 136 Delaware Ave., is slated to become a five-story property with floorplans ranging from studios to three-bedroom units. Please also call for a ground-floor parking garage with 52 spaces, 10 of which will be shared with the neighboring condominium association.
Terms were not disclosed.
“This transaction reflects the continued strength of the Jersey City development market and the demand for well-located, fully approved sites,” said Yanni Marmarou, IPRG’s managing partner in New Jersey. “We’re proud to have represented this sale and look forward to seeing this project come to life.”
The firm added that 136 Delaware Ave. will have private terraces for every unit, a second-floor interior patio, a modern fitness center and a 3,800-square-foot common roof deck offering sweeping neighborhood views. Renters will be just east of Jersey City’s sprawling Lincoln Park and steps from the McGinley Square neighborhood’s selection of shops and restaurants, while Route 1&9 and Route 440 are a short drive away.
