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JV Will Build Apartments at Former Base in Bayonne

A joint venture of JMF Properties, RD Management LLC, and Accurate Builders and Developers has closed on a 14-acre site at the former Military Ocean Terminal at Bayonne (MOTBY). Deal terms were not disclosed. Groundbreaking is planned for this fall on what will be 651 luxury apartments and 25,000 square feet of lifestyle amenities.

Formerly a base for both the Army and the Navy, the 103-acre MOTBY site is now being transformed into a mixed-use waterfront destination comprising residential, retail, restaurants, commercial and recreation. JMF and RD are also developing 240,000 square feet of retail space, with Costco Wholesale as the anchor tenant.

“Bayonne is a quickly-emerging NJ Gold Coast destination, and we are thrilled to partner with the city in its vision for this incredible, untapped waterfront asset,” said JMF’s Joseph Forgione. The residential development will rise near a planned ferry terminal at MOTBY.

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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
  • ◦Sale/Acquisition