The lobby in Soho Lofts in Jersey City — Courtesy: Manhattan Building Co.
By Joshua Burd
A new 377-unit luxury rental project in Jersey City is more than 50 percent leased, its developer said, thanks in part to a recent surge in which it signed nearly 80 leases in just four weeks.
Manhattan Building Co. is touting the leasing velocity at Soho Lofts, which comes barely four months after it debuted the property at 273 16th St., just south of Hoboken and west of the Holland Tunnel. The activity has brought the industrial-style complex to nearly 60 percent leased.
The developer said it has lured renters with some of the largest floorplans in Hudson County and a mix of upscale indoor and outdoor amenities.
“While we certainly expected Soho Lofts to be well-received, the incredible demand since first launching this property has exceeded our most optimistic projections,” said Louis Mont, chief operating officer Manhattan Building Co., which is based in Hoboken. “To lease so many homes — and so quickly — in what is still an emerging location speaks volumes about the value and appeal being offered at Soho Lofts.
“The well-designed apartments, full suite of amenities, and supportive street-level retail have clearly created the kind of desirable urban lifestyle experience today’s renters seek.”
Monthly rents begin around $2,795, according to a news release, with units ranging from 622 to more than 3,397 square feet. Soho Lofts offers one-, two-, three- and four-bedroom apartments, as well as a limited number of private townhome rentals.
The demand has prompted the developer to begin preleasing for select apartments in its 14-story west tower, the news release said. Apartments feature 10-foot ceilings and high-end finishes, with many of the units offering views of New York City and Jersey City’s downtown skyline
The firm also said residents have access to amenities such as an Infinity edge pool, private cabanas, surround sound media room, Zen garden, club room and others.
“The comfort found inside these residences is what separates Soho Lofts from the competition,” said Audrey Spina, director of leasing. “These apartments are larger than those found in rental buildings along the Jersey City and Hoboken waterfront, and in areas like Brooklyn, at a price point that offers considerable consumer value.”
The complex off Jersey Avenue is a block from another Manhattan Building property, known as Cast Iron Lofts, which has brought 387 units to the neighborhood over the past two years. They are among several projects to have been completed or launched recently in what had been one of the remaining industrial sections of Jersey City.