Construction is underway on a new apartment tower that marks Kushner Real Estate Group’s entrance to Philadelphia, with plans to connect two well-known neighborhoods in the city.
Rising interest rates are weighing on New Jersey’s multifamily pipeline, at least in the near term, but have seemingly not dampened the longer outlook for new construction.
Interest rate concerns have permeated the commercial real estate landscape in New Jersey and beyond — including the stalwart multifamily sector, which has enjoyed years of rent growth, low vacancy and strong absorption driven by wholesale demographic shifts. Investors and developers are now wrestling with how to forge ahead with deals and projects despite the uncertainty, as they wait to learn how many more rate hikes are still to come.
The STRO Cos. and Kushner Real Estate Group have secured $60 million to refinance a new 205,000-square-foot industrial development in Woodland Park.
Kushner Real Estate Group has all but leased up more than 400 units at its new luxury rental property in Bayonne known as Bay 151.
Developers marked the opening of a new luxury apartment tower in downtown Jersey City, where renters absorbed more than 500 apartments in just five months, in a sign of the relentless demand that continues to feed the city’s residential market.
Kushner Real Estate Group has expanded its partnership with a pet amenity and service company, bringing the platform to its new luxury apartment complex in Bayonne.
An Australian-themed café has opened its first New Jersey location, taking space at the base of Kushner Real Estate Group’s newest luxury apartment tower in Jersey City.
Three of the state’s well-known commercial real estate firms have acquired a multi-building, 77,000-square-foot industrial complex just west of Newark Liberty International Airport.