295 Johnston Ave. in Jersey City — Courtesy: JLL
By Joshua Burd
The owner of a four-year-old, 309-unit apartment building in Jersey City is looking to sell or recapitalize the property, according to a brokerage team with JLL.
Located at 295 Johnston Ave., the complex is part of the city’s fast-growing Bergen-Lafayette neighborhood and is currently 95 percent occupied. Renters are a short walk from NJ Transit’s Hudson-Bergen Light Rail station at Liberty State Park, providing access to a host of other mass transit options, while they’re also less than a mile from Interstate 78.
That access has helped drive interest at the collection of studio, one-bedroom, two-bedroom and three-bedroom homes since the team of Ironstate Development Co., Brookfield and Landmark Development completed it in 2020. So have the property’s amenities, which include a lounge with coworking space, a fitness center, a courtyard lawn and a pool, among others.
JLL’s Jose Cruz, Mike Oliver, Steve Simonelli, Elizabeth DeVesty, Austin Pierce and Will Mitchell are marketing the property, with the firm’s Thomas E. Didio Jr. and Gerard Quinn listed for financing advisory.
