An investment group has sold a 214-unit luxury apartment building in Dover for $75 million, marking the second trade of the property since late 2020.
In Hackensack, a proving ground for Cap Hospitality
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.
Editor’s note: Mastering the middle
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.
