Developer Pays $4.7M for Bergen-Lafayette Properties, Plans 100+ Units

282 Pine Street And 97 Monitor Street Bergen Lafayette Jersey City
Adjacent sites of proposed development: 282 Pine Street and 97 Monitor Street, Bergen-Lafayette, Jersey City. Image via Google Maps.

Two adjacent properties in Jersey City’s Bergen-Lafayette neighborhood that were sold in the spring are already the subject of a development application by their new owner.

FD Lot 9, LLC, which paid $3.7 million in April for 282 Pine Street and $980,000 in May for 97 Monitor Street, is now seeking approvals from the Jersey City Planning Board to construct a six-story mixed-use development on both tracts in Ward F. Property records show that FD Lot 9 is registered out of a house in Bergen County that is co-owned by William Rosato, a managing partner of Alpine Real Estate Group.

A legal notice earlier this month shows that the FD Lot 9 is proposing a building that would include 114 apartments and seven retail spaces. Six of the residential units could be designated as “affordable housing,” according to the notice, while a penthouse is envisioned for the sixth floor. Located within walking distance of the Liberty State Park stop on the Hudson-Bergen Light Rail, the complex would include 39 parking spaces on the ground floor of the building.

The two properties that are the subject of this application might sit adjacent to each other, but they each have been used for vastly different purposes over the years. Known for its signs warning of “attack dogs,” the 282 Pine Street parcel contains a warehouse that has been used by companies such as Statue Cruises and Alfa Steel Construction over the years. Meanwhile, the 97 Monitor Street tract includes a three-story apartment building and was the subject of a Jersey City Redevelopment Agency resolution last year that called for having the agency buy the premises for $455,000.

In order to move forward with its plans for 282 Pine Street and 97 Monitor Street, FD Lot 9 is looking to obtain Preliminary and Final Major Site Plan approval with deviations during the planning board meeting on Tuesday, November 12, at 5:30 p.m.

This application comes amid the construction of several other residential projects and proposals for other developments in this part of Bergen-Lafayette, including BeLa and 100 Monitor Street.

Note to readers: The dates that applications are scheduled to be heard by the Jersey City Planning Board and other commissions are subject to change.



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