Baldwin Avenue Warehouse to Become Residential Lofts

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56 Baldwin Ave Jersey City Lofts Development
56 Baldwin Avenue. Photo courtesy of GRID Real Estate.

The President of GRID Real Estate LLC, Bob Antonicello, announced earlier this week that the two-story industrial property at 56 Baldwin Avenue in Jersey City has been sold to Monticello Equities LLC in a deal brokered by GRID Real Estate and CBRE.


The Class C industrial warehouse was built in the 1920s and has a gross building area of over 15,000 square feet.

Sitting on the corner of Baldwin Avenue and Montgomery Street, the property is a 15-minute walk to Journal Square.

The building, which has been family-owned-and-occupied since the 1920s, will be converted into residential lofts.

“McGinley Square and Bergen Hill have been discovered by value-seeking developers,” said Antonicello.

“We have seen over the last two years, Bergen Hill and McGinley Square move from emerging market to a rapidly transitioning market.

KABR is nearing completion of their 720 Bergen Avenue project and Monticello Equities broke ground in January on the 96-unit, 136 Summit Avenue project.

We are finally seeing the kind of traction in these important neighborhoods community leaders have been working toward for many years.”

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