West Side Property Sold for $20 Million

Puccini's Restaurant located on the the corner of West Side Ave. and Broadway in Jersey City. PHOTO:  Michael Dempsey | The Jersey Journal

Puccini’s Restaurant located on the the corner of West Side Ave. and Broadway in Jersey City. PHOTO: Michael Dempsey | The Jersey Journal

Terrence T. MacDonald at NJ.com reports on the sale of Puccini’s Restaurant along with several other adjacent parcels totaling four acres. The property is less than a half mile from the Journal Square PATH station.

The $19.5 million deal was brokered by CBRE, of Saddle Brook, and Grid Real Estate, of Fair Lawn, owned by Bob Antonicello, the former Jersey City Redevelopment Agency chief.

Antonicello said Journal Square’s “inherent value” is becoming “front and center” after decades of developers focusing on the city’s Downtown.

In the next 12 months, he said, the neighborhood is going to see robust growth.

“People will be surprised at how quickly Journal Square turns around,” Antonicello said.

FULL ARTICLE

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