Page 16 - RE-NJ

14 SUMMER 2025
RUSSO, PULTE COMPLETE DEAL FOR
TOWNHOME PARCEL IN KEARNY
Russo Development has sold a
parcel in Kearny with approvals in
place for 136 luxury townhomes
along the Passaic River, brokers
with JLL announced in mid-June.
The buyer, PulteGroup Inc., paid
an undisclosed sum for the tract
at 55 Passaic Ave. and roughly
a half-mile from Interstate 280.
The deal sets up the first phase
of what’s known as Bridgeview,
where residents will be adjacent to
a seven-acre community park that
is under construction and within
walking distance of a ShopRite and
other retail offerings.
JLL Senior Managing Director
Jose Cruz and Senior Director
Ryan Robertson represented the
seller alongside senior managing
directors Steve Simonelli and
Michael Oliver and directors
Elizabeth DeVesty and Austin
Pierce. They noted that the site
Courtesy: JLL
borders Russo’s recently completed
Vermella East and Vermella West
projects, which have brought
hundreds of new apartments
to Kearny and have leased up
successfully.
“Bridgeview by Pulte Homes
presents a unique opportunity in
the thriving Hudson County multi-
housing market,” Cruz said. “With
its prime waterfront location and
proximity to major employment
centers, this development is well-
positioned to capitalize on the
growing demand for high-quality
housing in the area.”
JLL added that residents of
Bridgeview will have convenient
access to New York City and
Newark, while the project will
likely benefit from Kearny’s
ongoing economic growth and
its increasing attractiveness to
prospective homebuyers.
“We were honored to have played
a role in the sale of the property to
PulteGroup, who was able to work
with Russo on a unique business
plan to acquire shovel-ready lots to
expedite the projects construction
timeline,” Robertson said.
55 Passaic Ave. in Kearny
SHAPING NEW JERSEY’S
LANDSCAPE FOR OVER
A CENTURY
When it comes to real estate law, we know our way
around. We represent clients in every facet of real
estate, development, and redevelopment.
Every deal has nuance, and with our win-win
approach to negotiation, we find practical solutions
to the fine points that matter.
TODD E. LEHDER
Co-Chair,
Real Estate Group
(732) 855-6462
LAURIE E. MEYERS
Co-Chair,
Real Estate Group
(732) 855-6065
Let us get to know you and your business and
discover a legal team that gets deals done right.
Wilentz, Goldman & Spitzer, P.A.
Woodbridge | New York | Perth Amboy | Philadelphia | Red Bank
732-636-8000 | www.wilentz.com