Core Multifamily Asset Features 58 Apartment Homes & 3,200 SF Commercial Space

In one of Jersey Cityâ€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.

The post Gebroe-Hammer’s Niko Nicolaou Arranges $23.75M Sale of the Fairmount at McGinley Square in Jersey City’s Newest Budding Neighborhood first appeared on River View Observer.

All our advertisers have links to their websites in our digital issue
to name a few…
Exit on the Hudson Realty
Muller Insurance
Egelentowicz
Hudson County Community College
Aart in America Piano Company
Famous Furs
Ann & S Junk Removal

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The post River View Observer April 15-April 30th, 2017 first appeared on River View Observer.

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, Hobokenâ€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%). Hobokenâ€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.

To read the entire report click below 

South Hudson County Q1 Market Report 

The post Pure Properties South Hudson County Q1 Real Estate Market Report first appeared on River View Observer.

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, Pucciniâ€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 Lâ€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.

The buyer, an out-of-state investor, plans to develop the four-acre site into a mixed-use complex comprised of more than 500 residential units, as well as ground-floor retail, which will enhance greatly the areaâ€s streetscape. The property is ideally located just blocks from the Journal Square transportation hub and the proposed PATH stop in the Marion section of Jersey City.

“Jersey City is one of the hottest markets in the Tri-State area, with Journal Square specifically being the key focus right now for investors,“ said Mr. Berger. “This sale has set a record on a price-per-unit basis in the Journal Square area and, based on all of the deals weâ€re working on, that record likely will not stand for long. In the last two months alone, our team has closed approximately $30 million in property sales in the Journal Square area.”

The record-setting project is one of 30 developments underway in Journal Square and its close vicinity. This list includes the Canco Lofts, 25 Senate Place and the recently completed Mana Arts Center, all of which are in the immediate area of this four-acre project.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the worldâ€s largest commercial real estate services and investment firm (in terms of 2014 revenue).  The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at  www.cbre.com.

The post CBRE GROUP INC. ARRANGES $19.5 MILLION SALE OF FOUR-ACRE DEVELOPMENT SITE IN JERSEY CITY, NJ  first appeared on River View Observer.

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“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.

 “We are very proud to have witnessed the growth of Jersey City through our residential, commercial and retail developments,” said Paul Silverman, a principal at SILVERMAN. “We are committed to further restoring and advancing Jersey City while preserving its history and unique charm.”

A prime example of SILVERMAN’s development style is Hamilton Square (www.livingonthepark.com), a 124-unit premier adaptive reuse and new construction loft and condo development in the historic Hamilton Park neighborhood.  Hamilton Square is designed to combine a modern and industrial aesthetic, while offering luxurious loft living spaces with exquisite views of the Manhattan skyline and greenery of Hamilton Park. 

 To accommodate the needs of Hamilton Square residents, SILVERMAN sought out a strong balance of retailers to occupy the commercial spaces. SILVERMAN takes pride in addressing the wants and needs of buyers today and builds amenity-oriented neighborhoods to fit their residents’ lifestyles.

RETAIL AT HAMILTON SQUARE INCLUDES:

• Antheia Floral Design (www.antheia.net) provides beautiful floral design for weddings, events and parties of all budgets and tastes.

 Art House Productions (www.arthouseproductions.org) inspires, nurtures, and promotes the arts in Jersey City’s community through events and programming.

 Downtown Coop (www.downtowncoop.com) is a supermarket that will feature affordable, high-quality, sustainable, locally sourced food products. It is slated to open in 2011.

 Hamilton Health and Fitness (www.hamiltonhealthandfitness.com) features an indoor lap pool, the newest in cardio and weight training equipment, diverse group classes ranging from yoga to spinning, sauna and steam rooms, a children’s center, and a fully equipped Pilates studio. The fitness club has also been designed and constructed to be as environmentally responsible as possible by using bamboo flooring, high efficiency heating and cooling, low water usage plumbing design, LED and CFL efficient lighting, and recycled materials and furnishings.

 

• Hamilton Park Montessori (www.hamiltonparkmontessorischool.com) is a school that was founded by a team of educators interested in creating a positive learning community where the best practices in Montessori and early childhood education are implemented.

 Hound About Town is a boutique focusing on a wholesome life for pets.  It will include organic foods and treats as well as sustainable toys and accessories and is slated to open in 2011.

 

• Madame Claude Wine (www.madameclaudewine.com) is a European styled wine shop owned by a local Jersey City husband and wife couple of French origin. The focus is on French wines and spirits, with a selection of French food products including pate, cheese, dried sausages, pickles, Dijon mustard and baguettes.

 

• Newport Pharmacy (www.newportpharmacy.com) is an independently owned local pharmacy that has been serving the neighborhood since 1986 and has found a new home at Hamilton Square.

 Next Step Broadway (www.nextstepbroadway.com) is a dance studio owned and operated by Amy Burnette, a former Radio City Rockette, which provides kids and adults with the skills they need to get to Broadway including dance, singing, acting, music and more.

 Provident Bank (www.providentnj.com) has a convenient ATM branch location at the development.

 Smith & Chang General Goods (www.smithchang.com) is a general store with an eco- twist and vintage vibe featuring quality goods that are essential to everyday life.

 Sophie Sophia (www.sophiesophia.com/) a cake studio and bakery that produces the highest quality wedding cakes, specialty cakes and baked goods in New Jersey. 

 Tribeca Pediatrics (www.tribecapediatrics.com) has been helping New York families raise happy, healthy babies and kids since 1994, and is opening their first New Jersey office next year at Hamilton Square.  

 “It’s not just about building top-quality housing in Jersey City,” said Eric Silverman, principal at SILVERMAN. “We’ve enhanced the community by creating retail components, allowing for affordable, convenient and dynamic living in Jersey City.”

 Other prominent developments in Jersey City by SILVERMAN include: Schroeder Lofts (http://www.schroederlofts.com/), Majestic Theatre Condominiums (http://www.majesticjerseycity.com/), and Park Foundry (http://www.parkfoundry.com/).

SILVERMAN also focuses on creating a sustainable community by supporting a number of local charities and organizing neighborhood events.

 SILVERMAN supports Hudson County Child Abuse Prevention Center, Hudson County Community College Foundation, Hudson County Chamber of Commerce, Hamilton Park Conservancy, City Kids Church, City Sail, as well as Art House Productions, Jersey City Museum, Garden Preschool Cooperative, Women Rising, Jersey City Boys and Girls Club and Hudson Perinatal Consortium.

 The company organized the Hamilton Park BBQ Festival, which drew more than 3,000 attendees and benefited the Hamilton Park Conservancy; the Fifth Annual Cinco de Mayo Parade and Fiesta, the Fifth Annual Oktoberfest Parade and Festival; and a Pumpkin Patch for area schoolchildren.

For more information regarding the on-site sales office at Hamilton Square or to schedule an appointment please contact Sawyer Smith at sawyer@livingonthepark.com or 201-434-1000.

For more information on SILVERMAN, please visit: www.silvermanbuilding.com.

 

Follow us on Twitter: @LivingOnThePark

Facebook link: http://www.facebook.com/hamiltonsquare -or- Search for us on Facebook: Hamilton Square Jersey City

The post Eric Silverman and Paul Silverman, Founders and Principals of SILVERMAN first appeared on River View Observer.

Historic Condominium Conversion to be Honored During May 27 Ceremony

 

Given to outstanding examples of restoration or adaptive reuse of a historic building, the Excellence in Preservation award is being bestowed upon The Residences at Dixon Mills for Elmsford, NY-based developer Robert Martin Company’s restoration of the former Dixon Ticonderoga furnace houses into luxury condominiums and a comprehensive lifestyle amenities facility.

“More than 150 years ago, entrepreneur Joseph Dixon moved his growing business to downtown Jersey City, where he manufactured several products, the most famous of which is the yellow Dixon Ticonderoga pencil. Today, with their original architectural details, period brickwork and wrought-iron railings restored, those same Romanesque Revival-style buildings continue to be a fixture of downtown Jersey City,” stated Tim Jones, principal of Robert Martin Company. “We are extremely honored to receive this award from the Jersey City Landmarks Conservancy, and to be acknowledged for the work we have done in breathing new life into this important Landmark of New Jersey’s industrial past.”

The Conservancy will hold its ceremony from 6 to 9 p.m. on Thursday, May 27 at the Landmark Loews Theater at 54 Journal Square in Jersey City. Tours of the theatre will be provided following the awards ceremony.

The five buildings that comprise Dixon Mills were converted from a factory into rental apartments in the 1980’s. Robert Martin Company subsequently purchased the property in 2007 and developed the community into 467 luxury condominiums and a lifestyle center converted from the development’s historic Powerhouse building.

“The unique historic charm of this community is one of the primary reasons we have been so successful in our sales efforts, having sold and closed more residences over the past year than any other condominium community in Jersey City,” stated Jones.

Surrounded by cobblestone-style streets and landscaped courtyards adorned with rows of turn-of-the-century streetlamps and flowerboxes, The Residences at Dixon Mills combines bygone-era charm with a sense of urban sophistication.

The community is located just three blocks from the nearby Grove Street PATH station, offering direct access to Wall Street or Midtown, as well as the neighborhood’s many retailers, restaurants and cultural and entertainment venues. As part of the community’s amenities package, Dixon Mills offers residents a shuttle bus that takes them from their door to the PATH station.

Last year, the community opened The Club at Dixon Mills, a premier amenities space exclusive to Dixon Mills’ residents and featuring a state-of-the-art fitness center, screening room, spacious locker rooms, a yoga/movement room, community lounge with large projection television, WiFi area, media room and indoor multi-purpose recreational court.

Studios, as well as one-, two- and three-bedroom condominium residences are available from the low $200,000s. Duplexes and triplexes are also available, as are over 100 penthouses. Many of the residences feature oversized windows and ceilings that range in height from nine feet to 12 feet.

For more information about The Residences at Dixon Mills, please call the Sales Office at 201-309-1004 or visit www.dixonmillsjc.com.

About Robert Martin Company
Founded in 1957, Robert Martin Co. has a long, distinguished history in real estate. The company and its partners have developed and acquired over 20 million square feet of property and its holdings presently include over two million square feet of office space and hundreds of acres of developable land. Widely regarded as a pioneer in office park development and mixed-use urban renewal projects, the real estate and investment firm has expanded from its home base in the New York metropolitan region into California and Florida, where it has recently partnered to buy over 600 hundred acres of land, approximately 2,500 apartments and a large mixed-use project in Miami, Florida. For more information on Robert Martin Co. visit www.robertmartincompany.com

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The post The Residences at Dixon Mills Receives ‘Excellence in Preservation’ Award From Jersey City Landmarks Conservancy first appeared on River View Observer.

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.

 “The latest addition of FHA financing to the existing incentives we have available has already paid dividends and is attracting many new buyers to The Residences at Dixon Mills,” said Greg Berger, principal of Elmsford N.Y.-based Robert Martin Company, developer for The Residences at Dixon Mills. “We signed eight contracts in the first three weeks of March alone and the availability of FHA financing  has stimulated that achievement.”

 Berger added: “Having FHA financing, along with the limited-time $8,000 first-time buyer tax credit and one year of free maintenance being offered at the community has afforded Dixon Mills a notable advantage for savvy buyers.”

 FHA financing allows buyers that qualify to put a mere 3.5 percent down on their new home, as opposed to the 10 to 30 percent buyers would have to put down with conventional loans. FHA mortgage terms also allow the buyer to incorporate closing costs into the mortgage, instead of having the burden of paying these costs upfront.

 “If FHA financing wasn’t available, I wouldn’t have been able to purchase a home right now,” stated David J. Burks, a recent buyer of a one-bedroom home at The Residences at Dixon Mills. “The real estate market is open right now, however, for most people, finances are tough. Knowing that prices will rise makes now the perfect time to buy, and FHA allows those that are looking to be active in the market, but don’t have the necessary down payment, to get into it. I’m excited I had the opportunity to purchase a fantastic condominium in a luxury community.”

 Burks, who will be making a move to the Jersey City community from the Upper East Side in Manhattan in April, added, “A big selling point for me with Dixon Mills were the facilities – they are just fantastic. My fiancé and I were able to drop our expensive gym memberships because we have access to the community’s indoor basketball courts, sauna, gym and the various classes it offers, allowing us to save on our monthly bills.”

 “In addition to great financing options, our community offers an array of amenities, such as state-of-the-art fitness and community facilities and easy access to public transportation, whether you choose to walk or ride the Dixon shuttle bus” said Kristin Hurd, director of sales at The Residences at Dixon Mills. “Furthermore, we offer numerous residence layout options, authentic historic architectural details, and the option of private outdoor patios with spectacular views, attracting buyers looking for a one-of-a-kind luxurious home to our community.”

 One of the most unique characteristics of The Residences at Dixon Mills is its wide variety of floor plan designs. With more than 350 unique floor plans to choose from, buyers with an array of lifestyle needs have been able to find the ideal home to fit their personal living requirements.

Dixon Mills features studios as well as one-, two- and three-bedroom condominium residences from the low $200,000s. Duplexes, triplexes and penthouses are also available.

 Dixon Mills offers luxurious homes that feature remarkable finishes and features such as oversized windows and ceilings, bathrooms featuring deep soaking tubs, Carrara tile floors, beautiful marble and wood vanities, stylish gourmet kitchens outfitted with stainless steel appliances, granite countertops, coordinated backsplashes, porcelain tile floors and warm maple or rich cherry wood cabinetry.

 The community also offers residents access to The Club at Dixon Mills. Newly opened in the fall of 2009, The Club features a state-of-the-art fitness center, spacious locker rooms, a yoga/movement room, community lounge, WiFi area, media room and indoor multi-purpose recreational court. The Club’s Lifestyle Lounge includes a fireplace, kitchen, screening room with a large projection television, comfortable seating, and a plug ‘n’ play WiFi laptop bar.

The Residences at Dixon Mills is located just three blocks from the nearby Grove Street PATH station, offering direct access to Wall Street or Midtown, as well as the neighborhood’s many retailers, restaurants and cultural and entertainment venues. As part of the community’s amenities package, Dixon Mills offers residents a shuttle bus that takes them from their door to the PATH station.

The Residences at Dixon Mills Sales Office is open from 10 a.m. to 6 p.m. Monday, Wednesday and Friday through Sunday, and from noon to 8 p.m. Tuesday and Thursday. To visit the Sales Office, take Interstate 78 East to the Jersey City/Columbus Drive exit and stay straight to go onto Center Street. Make a right onto Christopher Columbus Drive. Turn right onto Brunswick Street and then left on Wayne Street. The Sales Office will be on your right.

 For more information about The Residences at Dixon Mills, please call the Sales Office at 201-309-1004 or visit www.dixonmillsjc.com. Tours of the Sales Office and designer model condominium homes are available by appointment only.            

 

 

About Robert Martin Company

Founded in 1957, Robert Martin Co. has a long, distinguished history in real estate.  The company and its partners have developed and acquired over 20 million square feet of property and its holdings presently include over two million square feet of office space and hundreds of acres of developable land.  Widely regarded as a pioneer in office park development and mixed-use urban renewal projects, the real estate and investment firm has expanded from its home base in the New York metropolitan region into California and Florida, where it has recently partnered to buy over 600 hundred acres of land, approximately 2,500 apartments and a large mixed-use project in Miami, Florida.  For more information on Robert Martin Co. visit www.robertmartincompany.com

 

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The post REAL ESTATE-Jersey City’s The Residences at Dixon Mills Excited to Announce FHA Financing Now Available first appeared on River View Observer.