This listing is brought to you by Megha Moza and Amar Mody of Prominent Properties Sotheby’s International Realty. Want a listing featured? Email us, [email protected].
A fully approved development site is now available in the Journal Square neighborhood of Jersey City. Located at 829 Bergen Ave, this opportunity is a short 7-minute walk from the Journal Square PATH station.
Project approvals are in place for an 11-story building with a total of 78 units – breaking down to 30 studios, 27 one-bedroom units, 19 two-bedroom units, and 1 three-bedroom unit, totaling 70,414 gross buildable square feet with a net saleable area of 49,000 square feet. The building design also incorporates 20 parking spaces and 50 bike spaces. The development site is perfectly positioned for future residents seeking the convenience of urban living combined with modern comforts.
Journal Square has recently seen significant development, making it one of the hottest markets in Jersey City. Rising rents and low vacancy rates underscore the demand for quality housing in this area. The proximity to the Journal Square PATH station ensures that residents have easy access to Downtown and Midtown Manhattan. In addition, the Journal Square Transportation Center is also served by NJ Transit and private bus lines to both north and south New Jersey neighborhoods including all NJ Shore points and Atlantic City.
Other notable Journal Square projects include KRE Group’s three-tower Journal Squared project, Kushner Companies’ One Journal Square, which includes significant retail space anchored by Target, and Metrovue, a Journal Square rental building currently open and 40% leased.
The last two decades have transformed Jersey City into a vibrant city. Shedding its image as a commuter hub for those who work in Manhattan, Jersey City is now home to many highly acclaimed restaurants, streets are lined with both major retailers and boutique mom-and-pop shops. The city is also hosts the headquarters of many large corporations.
With the Hudson River waterfront area now mostly developed, growth has shifted westward, particularly toward Journal Square. Once the heart of Jersey City’s culture and commerce, Journal Square is amidst a revival. An influx of new residents has spurred the creation and growth of new businesses, restaurants, and a pipeline of arts and cultural projects.
The investment potential of 829 Bergen Avenue is substantial, given the rapid development and growth in Journal Square. With fully approved plans in place, this development site offers a shovel-ready project in a desirable location.
829 Bergen Avenue is marketed by Amar Mody and Megha Moza of Prominent Properties Sotheby’s International Realty. For more information, please reach out to Megha at 978-606-6719 or [email protected] or Amar at 732-208-8505 or [email protected].
