Steven J. Pozycki, CEO of SJP Properties, spoke Thursday, June 21, during a ribbon-cutting ceremony for phase two of The Modern in Fort Lee. — Courtesy: SJP Properties
By Joshua Burd
A joint venture led by SJP Properties has formally unveiled its second 47-story apartment tower in Fort Lee, where local officials are hailing the project as a milestone decades in the making.
The developer and its partners, Northwestern Mutual Life Insurance Co. and PGIM Real Estate, welcomed local officials last week to mark the building’s grand opening. With the completion of the two identical towers, the project now includes 900 luxury rental units at the foot of the George Washington Bridge.
The joint venture showed off the second building and a combined 150,000 square feet of indoor and outdoor amenities during a ribbon-cutting ceremony on June 21.
“Other than the George Washington Bridge, The Modern is the single most significant development to have ever been built in the borough of Fort Lee,” Mayor Mark Sokolich said. “We have waited over 40 years to find the right developer with the vision and wherewithal to transform this once fallow property into the iconic destination that it is today, and we are thrilled to celebrate this latest milestone with SJP Properties.
“With our bold new skyline from The Modern’s two towers now complete, there is no question that Fort Lee’s renaissance is in full swing.”
All photos courtesy: SJP Properties
The first phase of The Modern is nearly 100 percent leased, SJP said in a news release. Much like the first tower, the new building offers units ranging from studios to three-bedrooms, complete with floor-to-ceiling windows and high-end interiors.
The property was designed by Elkus Manfredi Architects in partnership with SJP, which touted amenities such as a fitness center, a spa with sauna, a bowling alley and two golf simulators. Outdoor amenities include an infinity pool, a basketball court, an expansive rolling lawn area and community barbecue stations.
Each tower also offers on-site parking, while a courtesy shuttle provides daily access to New York City with pick-ups and drop-offs to the Manhattan subway less than 10 minutes away.
“In every aspect of its design, The Modern is emblematic of SJP’s more than 30-year history delivering premier developments throughout the New York Metropolitan region that catalyze the revitalization of neighborhoods and provide an exceptional lifestyle experience,” said Steven Pozycki, CEO of SJP Properties. “We applaud Mayor Sokolich and the Borough of Fort Lee for their leadership and partnership in helping to ensure swift progress in bringing The Modern’s two iconic towers to fruition.”
SJP has also begun construction of a nearly two-acre public park that will sit between The Modern’s two towers, the firm said. Inspired by Manhattan’s Central Park, the new park will enhance walkability and connectivity and be available to both residents of The Modern and of Fort Lee.
Additional plans call for a 7,000-square-foot restaurant with indoor and outdoor dining, SJP said. Meantime, the firm will assist in the development of an adjoining 13,000-square-foot building to be donated to the borough of Fort Lee, which will house a large public theater and a public museum referencing Fort Lee’s historical ties to the film industry.
The Bozzuto Group is The Modern’s exclusive leasing and management firm, SJP said. Pricing starts at $1,717 for a studio, $2,631 for a one-bedroom, $3,604 for a two-bedroom and $6,466 for a three-bedroom residence.