The second phase of The Marq in Teaneck will bring another 248 luxury apartments to a site on Alfred Avenue that already features a newly opened, 256-unit building by Malas Development. — Rendering by CPA Architecture/Courtesy: Malas Development
By Joshua Burd
Malas Development has closed on its acquisition of 2.5 acres in Teaneck, clearing the way for the second phase of a newly opened apartment building near Route 4.
The firm said Wednesday that it has started to demolish an existing industrial property at 359 Alfred Ave., with construction to begin in mid-July on a new six-story development that will add 248 rental units to the site. That will rise alongside the first phase of The Marq, where Malas has leased 80 percent of the building’s 256 homes just months after opening.
Designed by CPA Architecture, the second phase will have floorplans ranging from studios to three-bedroom units and upscale amenities such as sauna and massage rooms, coworking areas, a sport simulator, a landscaped courtyard with a pool and a rooftop terrace.
“The first building at The Marq has exceeded expectations, both in terms of leasing velocity and the overall resident experience,” said Mark Malas, managing member of Malas Development. “With demand remaining strong, we’re moving forward with the next phase to complete the vision for a cohesive, upscale residential destination in this well-connected pocket of Teaneck.”
Slated for completion in late 2026, the second building will mark the final step in Malas Development’s effort to transform a light industrial stretch of Alfred Avenue into a vibrant residential enclave, according to a news release. More than 150 residents now occupy the first phase, benefiting from a location that’s minutes from the George Washington Bridge and key northern New Jersey business and retail centers.
Rents start from $2,495, with limited-time incentives, Malas said, noting that the existing building has studio, one-bedroom and two-bedroom layouts, including loft-style homes on the top floor. Amenities in the first phase include a landscaped courtyard with a pool and fire pits, coworking spaces, private conference rooms, resident lounges, a pet spa, concierge service and a fully equipped fitness center.
Malas Development unveils 256-unit Teaneck rental building amid early leasing momentum
