Not only does a property located along one of the busiest corridors in Jersey City’s Ward F have new owners, but a new building could be on the way.
374 Communipaw Avenue, which is located between Halladay Street and Van Horne Street in Bergen-Lafayette, was acquired for $2.4 million in April by 374 Communipaw Schmitt Partners, LLC. Filings from the New Jersey Division of Revenue and Enterprise Services show that the LLC was registered in February out of Hoboken while city records show that the company is based out of the same address as Schmitt Real Estate.
The website of Hoboken-based real estate investment firm, Schmitt Capital, features plans for a five-story mixed-use building at the site. The firm’s website states that the development is expected to include 40 residential units along with ground floor retail space. Plans on the website from Minervini Vandermark Architecture show that there would also be nine parking spaces provided on the first floor.
The .115-acre site sits within the Morris Canal Redevelopment Plan Area and contains a garage and a one-story building. Until recently, the building was occupied by a small business called The Booth Barbershop and Lounge. In an Instagram post announcing the closure of the business, the owners thanked the Bergen-Lafayette community and wrote in part that “as a lot of us know Jersey City unfortunately and fortunately is getting sold to people with money and desire to build in plenty of locations. The sad part is that our lease got up and our location was included/sold to the buyers.”
The site also contained the Lopez and Sons Auto Body Shop and a laundromat in previous years.
