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New York & Tri-State  + New Jersey  + Finance  | 
A development site at 65 Church Street in Montclair will give rise to 74 apartments

JLL Arranges JV Equity for Site Acquisition in Montclair

JLL Capital Markets arranged $10 million in joint venture equity to acquire 65 Church St., a fully approved redevelopment site in downtown Montclair, NJ. The project will include 74 apartments and 3,873 square feet of retail. JLL worked on behalf of Bijou Properties, LLC and Accurate. 

The JLL Capital Markets Investment Advisory team representing Bijou was led by senior managing directors Jose Cruz and Kevin O’Hearn, director Ryan Robertson, managing directors Michael Oliver and Steve Simonelli and associate Michael Zlotnick. 

“We have seen significant demand for multi-housing development sites in New Jersey especially in infill markets throughout the state,” said Cruz. “Montclair is one of the most desirable submarkets and the activity reflected that.”  

The property is less than one mile from the NJ Transit Walnut Street and Bay Street Stations, with train service to New York Penn Station. It’s also close to I-280, the Garden State Parkway and I-95. 


Inside The Story

JLL's Cruz

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Development
  • ◦Financing