70 Central Lofts at 70 Central Ave. in Jersey City — Courtesy: The Kislak Co. Inc.
By Joshua Burd
Legacy Development Group has sold a new 31-unit luxury apartment building in Jersey City for $20 million — a per-unit price of $625,000 — in a deal arranged by The Kislak Co. Inc.
Davis Briones, a vice president with the brokerage firm, represented the developer in the all-cash transaction at 70 Central Ave. He also procured the buyer, listed as 70 Central Lofts LLC, touting the price-per-unit sale price as the highest for a Jersey City apartment building of at least 10 units since 2021, citing data available from CoStar.
“This landmark sale not only reflects the thriving Jersey City market but also sets the stage for continued growth and greater opportunity in the area,” Briones said. “At $625,000 per unit, it is among the highest prices per unit paid for a new construction building in Jersey City.”
Completed in 2024, the five-story 70 Central Lofts includes homes with upscale finishes and appliances, plus 7,000 square feet of amenity space. The site also has a parking garage for 32 cars and a single 1,696-square-foot retail unit, while renters are a half-mile from the Journal Square Transportation Center.
Woodbridge-based Kislak noted that the property also sits on the border of Journal Square and The Heights, two of the city’s thriving neighborhoods. It’s also about two blocks north of Route 139, providing easy access to the New Jersey Turnpike and other highways.
The seller’s attorneys were Russell Anderson and Anthony Bianco of Bertone Piccini LLP, while the buyer’s attorneys were from Schiller, Pittenger & Galvin PC.
