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Jersey City Waterfront Site Trades for $75M; Approved for 1,250+ Apartments
Cushman & Wakefield arranged the $75,000,000 sale of Harborside 8 and 9, one of the last remaining large-scale development sites along Jersey City’s Hudson River Waterfront. The firm represented the seller, Veris Residential.
The buyer was Panepinto Properties. The site os within the Harsimus Cove Station Redevelopment Area and is fully planned, entitled and positioned for large-scale residential and retail development.
Harborside 8 is approved for a 65-story tower including 678 apartments, 8,578 square feet of retail, a 350-space parking garage and a 40,000-square-foot redesigned public park along the river. Harborside 9 is approved for a 57-story tower comprising 579 units, 14,800 square feet of retail and a 555-space structured garage.
The Cushman & Wakefield Tri-State Capital Markets Team, including Andy Merin, Niko Nicolaou, Ryan Dowd and JP Hohl, along with RePropCo’s Brian Whitmer, advised the seller.
“With full approvals already in place and a growing tenant demand for new apartments, the site is uniquely positioned to deliver meaningful long-term value,” said Dowd.
Rendering courtesy of Elkus Manfredi Architects.
- ◦Sale/Acquisition
