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110 Bergen Turnpike in Little Ferry, Jersey
DevelopmentFinanceNew JerseyNewsNortheast

SCALE Lending Provides $75 Million Bridge Loan for 294-Unit Project in Little Ferry, Jersey

by Channing Hamilton

LITTLE FERRY, N.J. — SCALE Lending, the debt financing arm of Slate Property Group, has provided a $75 million bridge loan for a 294-unit project that is nearing completion in the New York City suburb of Little Ferry. Located at 110 Bergen Turnpike, the asset is expected to receive its temporary certificate of occupancy during the current quarter. The property will also feature 8,356 square feet of retail space. The borrower was New Jersey-based developer Capodagli Property Co. The loan features an 18-month term with two six-month extension options. The financing …

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Four Eleven Apartments in Union City, New Jersey
Investment SalesNew JerseyNewsNortheast

Marcus & Millichap Brokers $2.1 Million Sale of Four Eleven Apartments in Union City, New Jersey

by Channing Hamilton

UNION CITY, N.J. — Marcus & Millichap (NYSE: MMI) has arranged the sale of Four Eleven Apartments, a 17-unit community in Union City. The five-story building is located at 411 15th St. and totals approximately 13,400 square feet. The unit mix includes 13 one-bedroom and four two-bedroom units. Spat LLC sold the property to a local private investor for $2.1 million. Devin Perez, Jed Matricaria, Daniel Aviles, Brent Hyldahl and Alan Cafiero of Marcus & Millichap’s New Jersey office marketed the asset on behalf of the seller.

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Livana Colts Neck in Colts Neck, New Jersey
DevelopmentNew JerseyNewsNortheast

Kushner Breaks Ground on 360-Unit Development in Colts Neck, New Jersey

by Channing Hamilton

COLTS NECK, N.J. — Kushner has broken ground on Livana Colts Neck, a 360-unit project in Colts Neck, approximately 50 miles south of Manhattan. Livana Colts Neck will comprise 15 buildings that each rise three stories. Apartments will come in studio, one-, two- and three-bedroom floor plans. Amenities will include a pool, fitness center, outdoor grilling and dining stations, clubroom, lounge, conference facilities and a dog park. Minno & Wasko Architects and Planners designed the community. Construction is expected to be complete in spring 2027.

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DevelopmentNew JerseyNewsNortheast

TFE Properties Completes 174-Unit Kirby Village in Somerville, New Jersey

by Channing Hamilton

SOMERVILLE, N.J. — TFE Properties has completed Kirby Village, a 174-unit development in Somerville, about 50 miles southwest of Manhattan. The property includes one- and two-bedroom townhome-style units that range in size from 800 to 1,452 square feet. Units feature stainless steel appliances, quartz countertops and individual washers and dryers. Monthly rents begin at roughly $2,400 for a one-bedroom unit. Community amenities include a pool, fitness center, dog park and a children’s play area.

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105 Grove St. in Elizabeth, New Jersey
Investment SalesNew JerseyNewsNortheast

SAGE Brokers $4.2 Million Sale of 31-Unit Property in Elizabeth, New Jersey

by Channing Hamilton

ELIZABETH, N.J. — SAGE Investment Real Estate Advisors (SAGE) has arranged the sale of a 31-unit property located at 105 Grove St. in the Elmora neighborhood of Elizabeth. Built in 1927, 105 Grove St. offers exclusively one-bedroom units. The asset traded for $4.2 million. Steve Tragash of SAGE represented the seller, a private individual, and procured the buyer, a private investor.

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Vroom Street Apartments in Jersey City, New Jersey
DevelopmentFinanceNew JerseyNewsNortheast

JLL Capital Markets Arranges $13.1 Million in Construction Financing for Vroom Street Apartments in Jersey City, New Jersey

by Channing Hamilton

JERSEY CITY, N.J. — JLL Capital Markets has arranged $13.1 million in construction financing for the development of Vroom Street Apartments, a 42-unit project in the Journal Square neighborhood of Jersey City. JLL worked on behalf of the borrower, Urban Square Properties, to secure the two-year loan through First Bank. Max Custer and Salvatore Buzzerio led the JLL Capital Markets Debt Advisory team. The unit mix at Vroom Street Apartments will include five studio units, 14 one-bedroom units and 23 two-bedroom units. The average unit size will be 913 square feet. …

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Lenox in Jersey City, New Jersey
Investment SalesNew JerseyNewsNortheast

CBRE Arranges $221.5 Million Sale of Two Properties in Jersey City, New Jersey

by Channing Hamilton

JERSEY CITY, N.J. — CBRE has arranged the sale of Lenox and Quinn, two adjacent properties totaling 408 units located in the Paulus Hook neighborhood of Jersey City. Houston-based investment manager Hines Interests purchased both assets from institutional investors advised by J.P. Morgan Asset Management for $221.5 million.  Lenox was built in 2017 and comprises 255 units. The property also includes a 257-space automated parking garage. Built in 2018, Quinn totals 153 units. Both communities feature amenities such as a rooftop with BBQ gas grills and a pool, resident lounge, …

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West Side Square in Jersey City, New Jersey
DevelopmentFinanceNew JerseyNewsNortheast

Partnership Secures $169 Million Construction Loan for 477-Unit Development in Jersey City, New Jersey

by Channing Hamilton

JERSEY CITY, N.J. — West Side Square Development Fund, a partnership between LanTree Developments, Altree Developments Inc., Lanterra Developments Inc. and Westdale Properties, has received a $169 million construction loan for West Side Square in the Journal Square neighborhood of Jersey City. Bravo Property Trust provided the debt. West Side Square will offer 477 units in studio, one- and two-bedroom floor plans. Amenities will include coworking space, an outdoor deck with a pool and grilling stations, fitness center, community room and dog run. The property will also feature 9,841 square …

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Mount Laurel Crossing in Mount Laurel, New Jersey
Investment SalesNew JerseyNewsNortheast

JLL Capital Markets Arranges $80 Million Sale of Mount Laurel Crossing in Mount Laurel, New Jersey

by Channing Hamilton

MOUNT LAUREL, N.J. — JLL Capital Markets has arranged the sale of Mount Laurel Crossing, a 296-unit community in the Philadelphia suburb of Mount Laurel. Colony Hills Capital, an investment management firm based in Wilbraham, Massachusetts, purchased the asset for $80 million. JLL represented the undisclosed seller in the deal. Fran Coyne, Carl Fiebig, Jose Cruz, Mike Oliver, Samantha Kupersmith and Tyler Margraf led the JLL Capital Markets Investment Sales and Advisory team. Mount Laurel Crossing was built in 1999. The property offers one-, two- and three-bedroom units. The average unit …

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Avalon Hackensack at Riverside in Hackensack, New Jersey
Investment SalesNew JerseyNewsNortheast

JLL Capital Markets Brokers Sale of 226-Unit Avalon Hackensack at Riverside in Hackensack, New Jersey

by Channing Hamilton

HACKENSACK, N.J. — JLL Capital Markets has arranged the sale of Avalon Hackensack at Riverside, a 226-unit community located at 414 Hackensack Ave. in the New York City suburb of Hackensack. JLL worked on behalf of the undisclosed seller. The buyer and sale price were also not disclosed. Jose Cruz, Michael Oliver, Steve Simonelli, Elizabeth DeVesty and Austin Pierce led the JLL Capital Markets team. Avalon Hackensack at Riverside was built in 2013. The community offers studio, one-, two- and three- bedroom apartments. Select units feature balconies, patios, dens and …

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