Capodagli Property Co. has secured a $65 million construction loan for a planned 325-unit multifamily project in Union County, in a newly announced transaction by Greystone.
Capodagli Property Co. has taken the wraps off a new 106-unit residential building in Hackensack, where it’s also touting the debut of a restaurant concept that will be part of its growing hospitality platform.
With nearly 1,000 apartments under construction and some 2,000 more in its pipeline, Capodagli Property Co. is preparing for the next phase of its growth by launching a new hospitality platform that will bring cafés and restaurants to its future developments.
In crafting the design of the new Cap Diner, Nicolas Geeraerts said he wanted to “bring a little bit” of New York and Brooklyn, while also staying true to New Jersey. He also aims to create a younger, millennial vibe that is also going to attract families. The overall objective is to create a place “that is approachable, pricewise, for everybody (and) … where a community can get together without one person being better than the next,” said Geeraerts, who oversaw the development of a high-end food hall above New York Penn Station.
Even before I started covering commercial real estate full-time, I still came across development stories during my earlier days as a metro reporter in Central Jersey. One of those stories came when I was covering Bound Brook, a borough in Somerset County that had a tired downtown and a history of being battered by flooding from the Raritan River. But in early 2011, we learned that a developer named George Capodagli was interested in building the type of new apartments that were starting to crop up elsewhere in the state.
Capodagli Property Co. has kicked off the latest project in its fast-growing pipeline — a development that will bring 145 new apartments and a restaurant to its home city of Linden.
Capodagli Property Co. has secured a $30 million construction loan for a new 172-unit apartment project in Rahway, in a transaction arranged by Avison Young.
A developer is set to transform a tired stretch of Route 28 in Roselle Park, with plans to build more than 200 new apartments and street-level retail space over the next two years.
Construction is underway at the site of a planned 214-unit apartment complex in downtown Dover, where a developer is seeking to capitalize on a busy downtown and nearby mass transit.