A living room inside Gull’s Cove II, a new 107-unit condominium building in Jersey City’s Liberty Harbor North neighborhood. — Courtesy: Liberty Harbor North LLC
By Joshua Burd
A developer has sold more than three-quarters of a new 107-unit condominium building in Jersey City, touting the milestone as it prepares to welcome its first residents.
The firm, Liberty Harbor North LLC, said the activity at what’s known as Gull’s Cove II amounts to more than $60 million in preconstruction sales. The developer has nearly completed construction of the nine-story tower at 201 Marin Blvd., where the first buyers are expected to move in starting later this fall.
Gull’s Cove II follows the successful sell-out of the property’s 322-unit first phase, the firm said in a news release. Art Johnson, vice president of Liberty Harbor North LLC, said that was a sign of the untapped demand for condominiums in the Jersey City.
“In a city still dominated by rental product, Gull’s Cove has consistently appealed to those residents from both sides of the river looking to purchase a new-construction, luxury condominium in an amenity-rich building,” Johnson said. “The success of the first phase, the fact that we can start moving buyers in this fall, and a dearth of new-construction, for-sale product in downtown Jersey City have all helped drive sales velocity at Gull’s Cove II.”
The two-phase complex, which is connected by a ground-level row of public retail and private amenities, sits within the city’s Liberty Harbor north neighborhood and steps away from a light rail stop. Residents are also a short distance from NY Waterway ferry service and two PATH stations.
The property was designed by Marchetto Higgins Stieve Architects, featuring floor plans ranging from studios to three-bedroom layouts, the news release said. Each unit includes high-end appliances and finishes, while residents have access to amenities such as a fitness center, a resident’s lounge and children’s playroom, along with a club room with mini bowling lanes and other games.
The remaining homes range from $489,000 to a little more than $1.9 million.
The developer said it kicked off construction following the completion of $68.5 million in financing from Procida Funding and Advisors LLC of Englewood Cliffs.
