Page 9 - RE-NJ

TM7
COUNT ON OUR CAPITAL. BUILD YOUR BUSINESS.
Walter Sierotko, EVP 732.726.5516
TOTAL TEAM
LENDING
COMMITMENT YOU CAN COUNT ON.SM
RECENTLY FINANCED
$35,000,000
PERMANENT LOAN 309,000 SF INDUSTRIAL BUILDING MELVILLE, NY
$27,000,000
CONSTRUCTION LOAN 244,000 SF INDUSTRIAL BUILDING BETHLEHEM, PA
$62,500,000
PERMANENT LOAN 443,000 SF RETAIL BUILDING LINDEN, NJ
$35,000,000
CONSTRUCTION LOAN 209-UNIT APARTMENT BUILDING EAST ORANGE, NJ
www.Provident.Bank
EDITOR’S NOTE
WATERFRONT REBOOT
I recall the irony I felt the day I learned that Jersey City’s original Harborside complex — one of the largest, best-known pieces of real estate in a top-tier submarket — was under contract to sell to a company whose name had just four characters. Trivial as that may be, it was indicative of the fact that I knew nothing about this seemingly nondescript firm out of Manhattan known as 601W Cos., much less
what it had in store for the Hudson waterfront.
I know now that the company is anything but nondescript, at least
if you go by the types of large- scale, high-profile projects it has completed around the country during more than 25 years in business. And, as you’ll read in
views of Manhattan. That vision will take shape in the months ahead as 601W looks to meet the demand for dynamic, upscale spaces despite unease within the office market — with the belief that the best is still to come for Jersey City.
“As a company, we like to go into neighborhoods that are on the rise,” said Mark Karasick, a managing member of the firm. “And Jersey City, despite all its positivity, is still on the rise.”
Our October issue also includes a look at how Cushman & Wakefield aims to grow its share of private client investment sales in New Jersey’s apartment sector. The
firm recently appointed co-leaders of its newly minted multifamily capital markets group in East Rutherford, while announcing the addition of three veteran brokers who specialize in middle market deals. The moves are meant to not only capture new business, but expose a new crop of private clients to C&W’s well-established, highly accomplished capital markets team in New Jersey.
Elsewhere in this edition, we detail
...
m
I know now that t
company is anything
but nondescript, at
e
least if you go by the
types of large-scale, high-profile projects it
has completed around
the country during
ore than 25 years i
business..
n
how The Hampshire Cos. and
h celebrity chef David Burke have
this month’s cover story, 601W is drawing on that experience as it prepares to reposition the 2 million- square-foot Harborside property, which it acquired earlier this year from Veris Residential Inc. for a whopping $420 million. Its plans include the addition of important but notably absent amenities such as a fitness center, a conference center and a tenant lounge, as well as a 10,000-square-foot rooftop deck that will provide uninterrupted
partnered to revitalize the historic Bernards Inn, an iconic destination that was nearly done in by the COVID-19 pandemic. Renovations are underway, with the reopening
of the restaurant planned for early October, in what will be an eagerly awaited project by one of the state’s best-known commercial real estate firms.
You can find those stories and more in the latest issue of Real Estate NJ, including a new section known as the RENJ Owners Council. We’re thrilled to introduce this collection of Q&As with some of New Jersey’s leading commercial real estate executives, who reflect on the
state of the market, where they see opportunities, how they spend their down time and much more.
Until next time, thanks for reading and enjoy the issue!
Joshua Burd
Editor
[email protected]