Page 26 - RE-NJ Aug2020
P. 26

24 AUGUST 2020
PROJECT UPDATES
    BY THE BAY
BNE, LOCAL OFFICIALS BREAK GROUND ON FIRST PHASE OF MAJOR REDEVELOPMENT IN SOUTH AMBOY
BNE is also planning a second four-story apartment building at the site, according to a news release. Combined, the structures will include more than 500 luxury apartments with a mix of studio, one- and two- bedroom units.
The firm also noted that the complex will be within walking distance of the train, ferry and downtown. Plans call for a long list of amenities such as entertainment lounges, a co-working lounge with private offices and conference rooms and a commercial- grade fitness center, along with an outdoor swimming pool with cabana seating, indoor and outdoor bars and grills.
“South Amboy’s current and previous administrations have done a remarkable job
in revitalizing
Manhattan Beach Club will ultimately include 1,875 new homes, along with the construction of a long-awaited ferry terminal, making it the only state-designated transit village offering both rail and ferry service, the news release said. Earlier in the month, U.S. Rep. Frank Pallone, whose district includes South Amboy, announced that the U.S. Department of Transportation will grant $5.3 million to the city for the proposed 20,000-square-foot facility.
The terminal will operate up to three ferries between the city’s Raritan Bay waterfront and downtown Manhattan, the news release said. Located adjacent to the Manhattan Beach Club, the facility will also include 700 parking spaces and a second-story space for a restaurant.
BNE announced the project while touting the shops, restaurants and family-owned businesses that line South Amboy’s Broadway corridor. The city is also home to Raritan Bay Waterfront Park, a 114-acre county property with athletic fields, walkways, a playground, a nature study area, gazebos and a landmark pavilion with sweeping views of the bay.
NJ Transit commuters will have a ride of about 50 minutes to New
York Penn Station, while the location provides quick access to the Garden State Parkway, Route 9 and Route 35.
“We are pleased to have represented Sherwood Group Associates in
this sale,”
Dunne said.
“The suburban
location is the
right place for
new residential
development as
demographic
trends show
increasing
interest from renters in places like Union that offer convenient access to employers throughout the region, while also providing a high quality of life in a suburban setting.”
Amenities will include a pool, cardio and core strengthening fitness center, a private on-demand yoga and spin studio, a resident lounge and a meditation room with a Himalayan salt wall, according to
a news release. Plans also call for a children’s playroom, a multisport golf simulator, a game room and private co-working spaces. RE
BNE Real Estate has broken ground on a 291-unit residential building
in South Amboy, the first piece of a sweeping waterfront redevelopment that will yield nearly 2,000 new apartments.
The developer joined local officials on July 24 to mark the start of construction of the four-story building on Radford Ferry Road, part of a 55-acre parcel between the city’s train station and the Raritan Bay.
Plans call for a summer 2022 delivery, paving the way for the multiphase, $500 million project known as the Manhattan Beach Club.
“Smart, well planned growth is a tremendous asset to our city,” South Amboy Mayor Fred Henry said. “The Manhattan Beach Club will transform vacant industrial land into a bayfront destination providing stable long-term revenue to benefit our residents, both new and old, for decades to come.”
  A rendering of a 291-unit residential building on Radford Ferry Road in South Amboy, the first piece of a sweeping waterfront redevelopment in the city
the city’s
waterfront
over the past
two decades,
delivering a mix
of residential,
commercial and
recreational uses
throughout the city,” said Jonathan Schwartz, a partner with Livingston- based BNE. “We share their vision for unlocking the value of this critical waterfront asset and transforming
it into a thriving, well-connected neighborhood that will also benefit downtown South Amboy.”
underutilized site into a lifestyle community with luxurious on-site amenities,” said Randy Salvatore, CEO and president of RMS Cos.
The firm is breaking into New Jersey after more than 20 years of developing in Connecticut, with
a development pipeline of 1,500 rental units across the tristate area. The Union project, which features Lessard Design as its architect, sits near the Roselle Park border and is
about two miles from the township’s NJ Transit rail station.
CBRE’s Jeffrey Dunne, Gene Pride, Jeremy Neuer, Eric Apfel and Zach McHale, along with colleagues Nat Gambuzza and Trevor Fiebel, represented Sherwood Group Associates in its sale of the development site. The 6.4-acre parcel traded for $6 million.
Jonathan Schwartz
 DEVELOPER KICKS
OFF FIRST NEW
JERSEY PROJECT
A developer has broken ground on its first project in New Jersey, with plans to build 153 apartments at the site of a former salt factory in Union Township.
The Stamford, Connecticut-based firm, RMS Cos., announced July 13
that it has started construction at 1255 Magie Ave. after completing
its purchase of the former Schaefer Salt Factory. Plans call for 51 one- bedroom, 97 two-bedroom and five three-bedroom apartments at the site, along with a host of amenities at a location one mile north of Route 28.
“We are so excited to be expanding our operations into New Jersey and look forward to transforming this
Jeffrey Dunne
     A rendering of a 153-unit luxury apartment project at 1255 Magie Ave. in Union
Courtesy: CBRE Courtesy: BNE Real Estate







































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