Core Multifamily Asset Features 58 Apartment Homes & 3,200 SF Commercial Space
In one of Jersey City’s most popular budding multifamily investment submarkets, Gebroe-Hammer Associates has arranged the $23.75M sale of The Fairmount at McGinley Square, featuring 58 newly constructed Class A apartment homes atop 3,200 SF of prime commercial space. Executive Vice President Niko Nicolaou exclusively represented the seller, KABR Group, and procured the buyer, Tenth Avenue Holdings (TAH) Properties.
River View Observer for April 15-April 30th, 2017 fun things to do
Read Sally Deering’s article on Groove on Grove celebrating its 10 Anniversary.
Also by Sally Deering an article on the art of Andrea McKenna.
This issue has many art happenings, theater, read our restaurant column by Sally Deering on Cafe Bataya in downtown Jersey City.
And more of what you like: Real Estate, Community happenings and local merchants that will save you money.
In a milestone quarter, prices for one to four family dwellings in
Downtown Jersey City eclipsed those of Hoboken for the first time since 1996 when MLS data launched.
While 1-4 family home prices in Hoboken and Downtown Jersey City softened from Q4 2016, Hoboken’s fall was far more drastic. The median house price of 1-4 family homes in Downtown Jersey City continued to strengthen compared to the same quarter last year, up 10% to $1.40 million. Hoboken exhibited further weakness, with the median house price of 1-4 family homes down -17% since the first quarter of 2016 to $1.31 million – below Downtown for the first time in 19 years. The highest 1-4 family sale for the quarter was a single-family townhouse on Hudson Street in Hoboken for $2.425 million, substantially below both the list price of $2.95 million and the highest sale last quarter.
Condominium sales prices in Downtown Jersey City have strengthened enormously since last quarter (+5%) and year over year (+12%). Hoboken’s condominium market has remained effectively flat over the quarter (-1%) and has only inched upwards over the year (+3%). The highest condominium sale, a condo on Washington Street in Hoboken, surpassed the highest 1-4 family sale this quarter trading for $2.499 million or around $923 per square foot.
JERSEY CITY, N.J. (March 2, 2015) – CBRE Group, Inc. announced today it has arranged the sale of a four-acre development site in Jersey City, NJ, for $19.5 million. The property is comprised of an assemblage of underutilized buildings, including a large warehouse distribution facility, several multifamily homes, Puccini’s Restaurant – a landmark establishment – and associated parking. The seven-lot assemblage is located at 1075 W. Side Ave, 1072 W. Side Ave, 1064 W. Side Ave, 54 Broadway and 153 Corbin.
Charles Berger and Robert L’Abbate of CBRE Capital Markets’ Investment Properties team in New Jersey, and Elli Klapper of CBRE Capital Markets’ Investment Properties team in New York represented the seller and procured the buyer in the transaction. The team worked alongside local Jersey City brokers Robert Antonicello and Robert Antonicello, Jr.
“River View Observer Best Pick Developers for Jersey City.”
Brothers Eric Silverman and Paul Silverman have been developing real estate in Jersey City since 1981, but they are not ordinary developers. While others are making a splash building modern skyscrapers and luxury condos on the waterfront, the Silverman brothers have spent the last three decades quietly transforming former warehouses into mixed-use buildings, schools into residences and abandoned storefronts into fashionable shops throughout Jersey City.
The brothers founded SILVERMAN, now the foremost developer of mixed-use residential buildings, historic landmarks and creative retail destinations in Jersey City, and today serve as a major engine behind the city’s revitalization. The company provides affordable and market-rate housing options to the greater community of Jersey City while building family oriented neighborhoods and supporting local retailers. Continue reading Eric Silverman and Paul Silverman, Founders and Principals of SILVERMAN→
Historic Condominium Conversion to be Honored During May 27 CeremonyJERSEY CITY, N. J. (May 18, 2010) — The Jersey City Landmarks Conservancy, a not-for-profit organization that works to preserve, promote and protect the city’s irreplaceable historic resources, has announced that it has selected The Residences at Dixon Mills, a landmark condominium conversion in downtown Jersey City, to receive an Excellence in Preservation award at the Conservancy’s 2010 Annual Preservation Awards Ceremony.
Qualified Buyers Able to Take Advantage of 3.5 Percent Down Payment
Since opening, The Residences at Dixon Mills has successfully outperformed the local marketplace as the fastest-selling condominium in Jersey City. Now, with the announcement that the community has available Federal Housing Administration (FHA) financing, which requires only a 3.5 percent down payment, first-time homebuyers are finding that Dixon Mills also represents the best option to own a one-of-a-kind luxury home at an enhanced value.