Spring Fling: Real Estate Edition

Fresh from today’s New York Post report on new tristate area projects:

lobbycopy3 JOURNAL SQUARE

House-hunting renters in search of easy access to public transportation need not look any further. Jersey City’s 3 Journal Square, just across from PATH station, offers just that. This 240-unit, energy-efficient development has a mix of studios through three-bedrooms, with asking rents from the low $1,800s. These open-layout pads have EnergyStar appliances, granite counters and washer/dryers. Many apartments look out to the New York City skyline. Amenities include a playground for kids, a dog run for Fido, a fitness center for active types, a conference room for the work-from-home crowd and a lounge with billiards and a fireplace for those just looking to hang out. Valet dry cleaning and housekeeping are also available. Hartz Mountain Industries and Panepinto Properties make up the development team, while Marchetto Higgins Stieve is listed as the architect.

Contact: Greystar Management, 201-617-5818

vantageVANTAGE

Like Long Island City, Jersey City is bursting with new buildings. One of them, Vantage — a 45-story, S9 Architecture-designed tower with 448 rentals — is set to debut in downtown Jersey City early this summer. Its homes, at 33 Park View Ave., span studios to two-bedrooms, with floor-to-ceiling glass windows, and they’re priced from $2,115 per month. Vantage will have a pool, a sports court, a fitness center, indoor/outdoor screening areas and lounges. Fisher Development Associates is developing this structure.

Contact: The Marketing Directors, 201-333-1222

 

@CurbedNY: 30+ developments transforming New Jersey’s Hudson River waterfront #jerseycity

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New Jersey’s Hudson River Gold Coast is booming with new residential development. Check out Curbed NY’s recently posted Hudson River waterfront development map to see where the Gold Coast’s most prominent multi-family buildings are rising.

With all the activity happening along the Manhattan side of the Hudson River—the World Trade Center, Hudson Yards, and the like—it can be easy to forget that there’s a slew of construction projects happening on the other side of the water.

But there is, in fact, a veritable building boom in New Jersey right now, particularly the stretch along the waterfront between Fort Lee (to the north) and Bayonne (on the southern end). The developments going up run the gamut from small rental buildings to the state’s soon-to-be-tallest skyscraper, and each will have a part in transforming the state in the next few years. Here, we’ve mapped more than 30 of those projects

FULL STORY

#jerseycity: Popular alternative to Manhattan living @BrokersWeekly

jersey_city_from_a_helicopter-938x535Brokers Weekly’s Christian Brazil Bautista turns his gaze west to crunch the data and report on the popularity of JC living.

Feeling cramped in a New York City apartment? You may want to cross the Hudson River and relocate to Jersey City.

Jersey City, which is a hop and skip of a train ride away from New York City, is becoming an attractive landing site for Manhattan and Brooklyn defectors. According to the 2014 census, the area population was at 262,290 new in 2015. That amounts to a 6.7 percent jump compared to the population in 2010. The spike in the headcount amounts to the largest in the New Jersey over that time period, making the Jersey City the second most populous area in the state.

Read the full story HERE.

Coming Soon to Jersey City

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70 Columbus in downtown JC

Steve Strunsky at NJ.com reports on the dramatic growth of development in JC. With nearly 30,000 units on the way, Steve identifies the Top 10 projects coming to a neighborhood near you.

Jersey City’s remarkable transformation from an industrial railhead to a gleaming metropolis dates back decades, with ups and downs reflecting the broader economic fortunes of New York and the nation.  But the city’s current growth spurt is extraordinary even by Jersey City’s own booming standards.

Residential development is particularly strong, with 42 projects of at least 100 units each now in the works, totaling nearly 15,000 condominium and rental units over the next five years, and another 13,400 units projected within 10 years after that, according to the Jersey City Division of Planning. Those are in addition to more than 4,500 recently completed units, planners say.

PICS AND FULL STORY

Hamilton House Launches in Jersey City with Modern Rentals and Amenities

 

Boutique Property Features Generous Floor Plans and an Onsite Kiddie Academy Early Education Daycare Steps From Hamilton Park

JERSEY CITY, N.J. – Leasing is underway at Hamilton House in downtown Jersey City where The Shuster Group has delivered a boutique, amenity-rich rental building featuring generous living spaces desired in Jersey City, but rarely found in today’s new construction marketplace.  Initial occupancy is scheduled for March 1st.

Ideally located at 255 Brunswick Street just steps from Hamilton Park where single professionals and families come together in one of Jersey City’s most dynamic and friendly neighborhoods, Hamilton House features an intimate seven-story design from acclaimed architect Fogarty Finger that greatly enhances the overall streetscape.  The distinctive building boasts just 75 one-, two- and three-bedroom rental residences, and a well-thought-out offering of amenities and services. The ground floor will be home to a Kiddie Academy educational daycare center, while additional commercial spaces ideal for office and professional services are located on the first floor.

“There is considerable demand in Jersey City today for larger rental homes that fulfill the growth needs of residents,” said Eyal Shuster, Owner of The Shuster Group, which also developed The Oakman and The Art House in Jersey’ City’s Powerhouse Arts District.  “Hamilton House was designed to meet that demand with a combination of expansive floor plans and complementary amenities in a desirable downtown location.”

Residences at Hamilton House feature soaring living spaces that combine with designer finishes and appointments to create a modern living experience.  Spacious interiors include 9’ ceiling heights, white Oak hardwood floors, oversized windows that bathe the homes in natural light, Italian kitchens with Ceasarstone countertops, stainless steel appliances and under cabinet lighting; in-home Bosch washer/dryer, walk-in closets, and sleek bathrooms.   Select residences also offer balconies or private patios, while all homes feature efficient cooling and heating systems, with gas heating paid by the landlord.   Monthly rents currently range from $2,395 for one-bedroom plans, from $3,150 for two-bedroom homes and from $4,395 for three-bedroom residences.

The Shuster Group fashioned a full suite of amenities to enhance residents’ lifestyles at Hamilton House, including a dramatic lobby attended by a doorman, state-of-the-art fitness center, Yoga room, a Business Center and a Resident’s Lounge with dining area conveniently situated adjacent to a Children’s play room.  Set against a stunning backdrop of Manhattan skyline views, a huge rooftop terrace features a garden area, lounge seating and grilling stations.  Residents also enjoy Wi-Fi in common areas, a designated bike storage room, cold storage for deliveries, private storage on each floor, a pet-friendly atmosphere and available onsite parking.  Complimentary shuttle service is provided to the PATH station. Continue reading

First Journal Squared Residential Tower Tops Out At 563 Feet In Jersey City’s Historic Journal Square

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The Developers of Journal Squared join municipal and union officials to celebrate the topping out of the first of three residential towers planned for the property. From left to right: Jeffrey Kanne, President and CEO of National Real Estate Advisors; Dan Gumble, Business Manager of the International Brotherhood of Electrical Workers Local 164; Murray Kushner, Chairman and CEO of The KRE Group; Kevin Verdi, Managing Director of National Real Estate Advisors; Steven Fulop, Mayor of Jersey City; and Jonathan Kushner, President of The KRE Group.

The KRE Group and National Real Estate Advisors have announced the topping out of the first phase of Journal Squared at 563 feet, providing visual context for what will ultimately be a three-tower, mixed-use project that will fuel the revitalization of Jersey City’s historic Journal Square neighborhood and its vital intermodal transportation hub.

Mayor Steven Fulop and fellow municipal officials joined the development partnership, union officials and tradespeople to celebrate the construction milestone.

“When you look at the Jersey City that has emerged in the last decade, it really is one of the greatest revitalization stories in the country,” Mayor Fulop said. “It is the economic engine of New Jersey, leading the state in both job creation and construction starts, but for a long time Journal Square lagged behind in that progress. Now, for the first time in 45 years, we not only talked about significant development away from the waterfront, we actually got the shovels in the ground. We couldn’t be prouder of the growth and potential of our city that is reflected in this Journal Squared development which will remake the entire skyline.”

1450392324_journalThe 53-story building will deliver 538 luxury rental residences to a location adjacent to the Journal Square PATH Station. It is part of the developers’ comprehensive, three-phase project that will also include the construction of a 60-story tower and a 70-story building. When completed, the transformative project will bring 1,838 rental residences, 36,000 square feet of retail and restaurant space and a pedestrian-friendly, public plaza to the neighborhood.

Jeff Kanne, President and CEO of National Real Estate Advisors, said: “We’re moving quickly to realize our vision for this game-changing project in Jersey City, which combines vanguard design, unmatched transportation links, and outstanding public amenities. It offers the best of what inspired urban redevelopment must deliver: a highly attractive city environment, convenient lifestyles, and an anchor for future growth.”

The development is creating more than 700 jobs in Jersey City, including construction and eventual full-time employment opportunities.

“We’re delighted to be here today to recognize the combined efforts of our construction and design teams and the many skilled tradespeople who have helped us get to this point,” said Jonathan Kushner, President of The KRE Group. “We believe this iconic project will serve as the centerpiece of a resurgent urban neighborhood by creating much-needed residential, retail and open space that complements the existing mass transportation infrastructure.”

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Architectural rendering of Journal Squared, a three-tower, mixed-used development adjacent to the Journal Square PATH station in Jersey City.

Phase II will include 700 rental residences in a 70-story building, while Phase III will feature 600 rental homes in a 60-story building. A total of 920 parking spaces will also be included in the development. The developers will pursue LEED certification for all three buildings.Scheduled for completion in late-2016, Phase I of Journal Squared will offer 538 studios, one-, two- and three-bedroom rental residences with upscale finishes and appointments and stunning views of the Hudson River, Statue of Liberty, Ellis Island and downtown Manhattan. The building will also feature more than 10,000 square feet of amenities, including a full-service fitness center, golf simulator, children’s playroom and outdoor pool. A one-of-a-kind, 2,000 square-foot entertaining space will be located on the 53rd floor. Continue reading

Renters snap up nearly 50 percent of The Beacon’s latest offering in Jersey City

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Criterion residents enjoy The Beacon’s unrivaled open space, including the 45,000-square-foot Overlook Park offering panoramic Manhattan skyline and New York Harbor views.

It seems there’s no end in sight to the demand for new luxury apartments at The Beacon in Jersey City as nearly 50 percent of the community’s latest offering of 271 residences has been leased since August.

The spirited rental activity at Criterion, which rises 18 stories above The Beacon’s elevated site overlooking the Manhattan skyline and Liberty State Park, follows the successful lease of four other luxury apartment buildings at The Beacon, according to Building & Land Technology (BLT), which is developing the community’s collection of residences and incomparable indoor and outdoor amenities.

Criterion continues BLT’s commitment to delivering a desirable urban lifestyle experience with modern studios, one- and two-bedroom residences complemented by well-thought-out amenities and services. Immediate occupancy is available.

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The apartments at The Beacon feature high ceilings and gourmet kitchens with granite countertops, stainless-steel appliances and garbage disposals.

“Each building at The Beacon offers its own distinctive character and ambiance, blending historic architecture, modern finishes and private amenities to provide a wide range of options for residents within the community,” said John Masso, The Beacon’s regional manager. “Criterion is no exception as its beautifully adorned lobby, unique amenities and spectacular views have clearly resonated with today’s urban professionals.”

Like the Mercury, Orpheum, Paramount and Tower buildings at The Beacon, Criterion’s exterior has been expertly restored to recapture the dramatic architectural details and historic grandeur of its Art Deco-era origin. Blending perfectly with Criterion’s historic spaces are new, modern residences with monthly rents starting at $1,595. The apartments feature high ceilings and gourmet chef’s kitchens with granite countertops, stainless-steel appliances and garbage disposals. Elegant baths are adorned with cultured marble vanity tops, tile floors and glass shower doors. Each residence also offers central heating and air conditioning and individual washers and dryers. Continue reading

Onward & Upward!

NJ BIZ features projects by Ironstate Development Company and KRE Group, in new, special report on Jersey City development.

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50-70 Columbus

When the first wave of developers broke ground in Jersey City in the ’90s, they relied heavily on its proximity to Manhattan and public transportation to fill modest rental units.

“Earlier on, the main selling point was just building an efficient product with views of Manhattan where you could get them.” said David Barry, president of Ironstate Development Company.

Fast -forward nearly two decades and Ironstate’s latest project touts luxury living accommodations typically found on the other side of the Hudson. Instead of reminding prospective renters about the benefits of living in the Big Apple’s shadow, Ironstate’s newest advertising campaign celebrates the city as a draw in and of itself, proclaiming “We Are Jersey City”.

“As the energy and success grew around the urban areas, it became more obvious that this is a great place to live and work. There is a demand for this city.” Barry said. “My projects have gotten bigger, more architecturally significant, and include more design and amenities. “

Illustrating his point is Ironstate and Panepinto Properties’ ongoing project on Christopher Columbus Drive. The development opened in 2007 with the 400-unit 50 Columbus tower set atop the then-recently remodeled Grove Street PATH Station.

‘”That building represents part of Jersey City’s evolution Us a more traditional brick building with efficiencies.” said Barry.

In comparison, developers dubbed the project’s next phase, 70 Columbus, a “residential jewel”.

A high- rise with 543 luxury units, the newly opened 70 Columbus was designed by prominent New York firm Gwathmey, Siegel, Kaufman and Associate Architects. The project’s final two phases will include additional luxury rental residences at 90 Columbus, a 150-room Marriott Residence Inn at 80 Columbus and mixed retail services.

In addition to unobstructed views of downtown Manhattan, 70 Columbus offers upscale amenities on par with high-end Manhattan living: an attended lobby, fireplace lounge, billiards room, multimedia theater, catering kitchen, landscaped roof deck including a pool, grilling/ BBO stations, sport court, dog run and an outdoor kids play area.

It’s those extras – which also includes parks with sweeping Manhattan vistas, organic garden plots, Citi Bike stations, cooking classes and doggie day care centers – that foster communal livinq and are the calling card of this new spate of development springing up in Jersey City, said Jeremy Kaplan, chief operating officer of KRE Group.

Today it’s not just come home, get your mail, go up to your apartment and don’t come back out.” said Kaplan of the modern urban dweller.  “People want to get to know who is living next to them. They are interested in community and our buildings are being designed to cater to that.”

In the case of 18 Park, one of many joint projects from KRE Group and Ironstate, the building was developed around that interest in community – literally. The architecturally distinct 11-story structure, which opened in 2014 and features 422 residences in the city’s Liberty Harbor North neighborhood, also is home to the new 18.000-square-foot Boys & Girls Club of Hudson County.

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Rendering of 235 Grand

 What the two developers have planned at the site of the former Boys & Girts Club behind 235 Grand St promises to cultivate outdoor community gathering space and revitalize a sizable chunk of Jersey City’s waterfront. Plans for 235 Grand are not finalized, but include a 45-story rental lower with 549 units and an additional 10-story building with 131 units next door. A key piece of the plan would take Grove Street where it ends at Grand and extend it to a public park on the waterfront.

“Grove Street has become such a draw to walk and to shop. This would just continue the flow of the cityscape.” said Kaplan. “The city has been encouraging us to extend Grove to change the landscape of Jersey City and benefit its residents. It’s something we couldn’t do without their support.”

And just how many more residential properties can Jersey City support?

As the population has grown, so has the burden on the light rail, PATH and ferry connections that spurred redevelopment in the first place.

“We have a finite number of links to the city.” said Barry. “I think that’s an issue that has to be resolved sooner or later. We need more ferries, more efficient trains. The Port Authority needs to invest more money in that system.”

But in the immediate future, Kaplan and Barry still see room for growth here.

“Jersey City has become a desirable place to live in its own right. The draw before was the accessibility and affordability, but it’s also acquired enormous quality of life features.” Kaplan said. “We continue to believe that will grow and grow.”

 

NY Post Features JC’s Newest Condominiums

FOR REAL ESTATE -- The Oakman -- entrance  HANDOUT

Today’s New York Post’s “NYC’s 33 buzziest new buildings” goes beyond NYC to feature The Shuster Group and their newest offering in Jersey City, The Oakman.

It’s not all about New York living. For those with New Jersey on the mind, The Oakman a condominium in Jersey City’s Powerhouse Arts District kicked off sales of its 159 apartments last month. And eight of these units are penthouses with outdoor space. Located at 160 First St. and designed by Fogarty Finger Architecture, this 14-story building will have a fully equipped roof terrace with a pool and views of the city skyline, fitness center, 24-hour concierges and children’s playroom, plus a lounge, library and business center. The apartments start with studios and go up to three-bedrooms, with prices from $700,000. The first move-ins are expected in summer 2016.

Contact: JCity Realty, 201-860-9800

FULL STORY AT NYPOST.COM

9 REASONS TO MOVE TO JERSEY CITY RIGHT NOW

Thanks to NYC real estate blog BrickUnderground for showing the community across the river why Jersey City is great. Of course, we already knew that!


Priced out or just weary of Manhattan? Dreaming of Brooklyn’s spacious apartments and skyline views without Brooklyn’s sky-high prices? You’re in luck. Jersey City‘s got huge amounts of available, affordable housing, a welcoming community vive, a steady stream of foodie-approved new restaurants, and a blissfully short commute into the city that in no way involves the L train. Here, nine reasons why you should consider crossing the Hudson:

JC 9 reasons

1. The commute from Brooklyn to Midtown seems longer each day: Ditch the L train or any other form of commute that can’t be accomplished in the time it takes to drain a green tea matcha latte. You can take the PATH train from Jersey City to the World Trade Center in five minutes, Greenwich Village in 16 minutes and  33rd Street in just 22. Or commute to Midtown or Lower Manhattan via four ferry routes set against the backdrop of the Manhattan skyline.

2. You will be ready to retire by the time you scrounge together the down payment on a NYC studio: Homes in Jersey City are significantly more affordable. You can snap up a one bedroom luxury condo with skyline views for $530,000, a doorman two bedroom, two bath with its own washer/dryer and a fitness center in the building for $950,000 and plenty of other choices a little more inland for under $450,000.  And rents are equally enticing, such as a 1,500-square-foot two-bedroom, two bath loft with a washer/dryer within walking distance to the train is $2,500/month, or a one- bedroom with a terrace and a modern kitchen for$1,950.

3. You’re tired of paying more–for everything: Everything from rent to bottled water to cable tv to a package of toilet paper is cheaper in Jersey City than in Manhattan. And  it’s not just because the sales tax is just 3.5% versus 8.5%.

4. Another neighborhood bookstore just closed: Jersey City is home to independent bookseller WORD, not to mention a plethora of unique boutiques (Tia’s Place, Modern Sage, Kanibal Home, Hazel Baby, Another Man’s Treasure). There’s also a mall, because sometimes you just want to run all of your errands in one place.

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