A rare development opportunity is now available at 306-310 Newark Avenue, located in the Village neighborhood of Downtown Jersey City. Situated at the intersection of Newark Avenue and Fourth Street near Brunswick Street, the development site, complete with approved plans, is listed by Wil Parkerson of Compass.
The corner property has approved plans for a 5-story building featuring 12 residential units and a ground-floor commercial space. Its location and zoning make it an attractive investment for developers looking to capitalize on Downtown Jersey City’s ongoing growth.
The development plans were drawn up by INOA Architecture, who have designed some of Jersey City and Newark’s most coveted projects. The project’s glass-heavy design and large floor plans will create open, airy residences drenched in natural light that appeal to the most discerning buyers.
The development site’s proximity to the popular pedestrian plaza along Newark Avenue enhances its appeal. Future residents and businesses will have easy access to some of Jersey City’s best dining, shopping, and entertainment options. The property is also just a 10-minute walk to the Grove Street PATH station, making it a convenient option for commuters heading into NYC.
This specific stretch of Newark Avenue has significantly transformed in recent years, with numerous projects reshaping the area. Developments like 380 NWK, Mill Rocks, 338 Newark Avenue, and The Cornerstone Lofts have added new residential and commercial spaces to the corridor, making it one of the most dynamic and desirable sections of Downtown Jersey City.
The demand for new construction condominium units is strong in this specific area. Neighboring condo projects 338 Newark and The Cornerstone Lofts saw significant demand, leading to rapid sales and market-leading sale prices.
Jersey City is well known as one of the fastest-growing areas in the country. Development-ready properties in this area, specifically Downtown Jersey City, are becoming increasingly scarce. The continued demand for residential units, paired with the convenience of the Newark Avenue corridor, ensures a strong potential for long-term value and rental income.
This development opportunity is exclusively represented by Wil Parkerson of Compass, a top-producing agent with a proven track record in Jersey City’s competitive real estate market. Wil regularly works with homeowners and investors alike. Recent highlights include the sale of a Jersey City townhouse for $104k over asking and a duplex condo that also sold above asking.
For more information about 306-310 Newark Avenue, contact Wil Parkerson of Compass at 201-362-2432 or [email protected]. You can also visit his website or Instagram for more information.
