Hudson Atlantic announces sale of Lakeside Residences in Pompton Lakes for $20M
Hudson Atlantic Realty recently announced it successfully closed on Lakeside Residences, a 52-unit luxury apartment building in Pompton Lakes, for $20 million, or $385,000-plus per unit. Built in 2022, this property boasts high-end finishes as well as a wide range of amenities including fitness center, resident lounge, game room and tenant storage.
https://www.roi-nj.com/2023/10/23/real_estate/hudson-atlantic-announces-sale-of-lakeside-residences-in-pompton-lakes-for-20m/
Klein to Develop 272 Apartments in Metuchen, Bringing New Life to Ex-Factory Site
The Baltimore-based firm, Klein Enterprises, said the project at 212 Durham Ave. is slated to open around fall 2025 after the recent completion of demolition at the property. The former factory site has undergone significant environmental remediation over the past several years in preparation for the new multifamily development, the company said, while it will benefit from what is reportedly Metuchen’s first-ever payment in lieu of taxes agreement.
https://re-nj.com/klein-to-develop-272-apartments-in-metuchen-bringing-new-life-to-ex-factory-site/
Advance Set to Unveil 399-Unit Luxury Rental Project in Harrison Redevelopment District
The developer on Wednesday said it has launched preleasing at the five-story building known as The Wyldes, at 1100 South 5th St., with occupancy slated for early July. It hopes to lure renters with nearly 70,000 square feet of indoor and outdoor amenity space and a location that is a short walk from the Harrison PATH station.
April Rent Report: Trenton, NJ, Tops the Most Unaffordable List
Most U.S. cities are unaffordable based on the most recent data available on market rents and median income, with Trenton, New Jersey, replacing Bridgeport, Connecticut, at the top of the “unaffordable” list since the previous month's report.
https://www.nerdwallet.com/article/finance/april-2023-rent-affordability-report
NRP Group Breaks Ground on 401-Unit Apartment Community in Jersey City’s Port Liberté Neighborhood
The NRP Group on Tuesday said it broke ground on a 401-unit multifamily apartment development in the Port Liberté neighborhood of Jersey City, thanks to a partnership with Rockwood Capital, Citizens Bank and Fifth Third Bank, and G&S Investors.
Perth Amboy Making New Push for Planning, Redevelopment Around Key City Properties
With new leadership in place, officials in Perth Amboy say redevelopment of both the city’s waterfront and its commercial district will be a priority, following years of fits and starts that have hindered large-scale progress in the community.
https://re-nj.com/perth-amboy-making-new-push-for-planning-redevelopment-around-key-city-properties/
Iron Ore, AMJ Unveil 120-Unit Luxury Rental Project at Plainfield’s Netherwood Station
Iron Ore Properties has taken the wraps off a new 120-unit apartment building in Plainfield, where residents are steps from both NJ Transit rail service and one of the city’s largest parks.
Jersey City's 49 Fisk St. Tops Out; Halpern Real Estate Eyes Late 2023 Launch
Halpern Real Estate Ventures on Monday announced the topping out of 49 Fisk St. at six stories, bringing the new residential building on Jersey City’s revitalizing West Side neighborhood into focus.
KRE Group breaks ground on 239-unit rental project at ex-Mondelez site in East Hanover
Kushner Real Estate Group has broken ground on a new 239-unit luxury apartment property in East Hanover, known as Valley View Park, as it expands its portfolio of garden-style multifamily assets.
Concrete Prices Lead Building Material Prices Higher
Ready-mix concrete (RMC) prices continued their historic pace as the index increased 0.8% in February after gaining 0.7% in January (revised). RMC prices have increased in all but two months since January 2021.