Brookfield Taps RKF to Market VYV Retail Space in Downtown Jersey City

444 Warren Street Retail Jersey City
444 Warren Street, Jersey City. Rendering courtesy Brookfield Properties and RKF.

New York-based developer Brookfield Properties has tapped brokerage firm RKF to market over 9,000 square feet of retail space at 444 Warren Street. The property, located steps from the Harsimus Cove Hudson-Bergen Light Rail station, is the second phase of Brookfield’s 18-acre downtown development called Hudson Exchange West.

RKF will market retail space at the base of the 432-unit VYV East tower and next to the 421-unit VYV building.

Hudson Exchange is a joint-venture by Brookfield Properties and G&S Investors, the latter of which owns the 18-acre site. According to Brookfield Properties, the Hudson Exchange project will deliver 5,400 apartment units in 12 towers and 350,000 square feet of amenity, retail and dining space.

The 18-acre site was previously a joint-venture by G&S Investors and Forest City Realty Trust. Forest City was acquired late last year by Brookfield Asset Management in a deal valued at $11.4B. Forest City secured site plan approvals for 444 Warren Street in 2017.

The site of the first residential tower, VYV, formerly housed a Pep Boys auto center. The tower was also the first luxury rental building in Downtown Jersey City to mandate an affordable housing allocation of 20%.

According to a redevelopment plan from Jersey City from 2014, the Harsimus Cove redevelopment includes a park between Fourth and Third streets and between Provost and Warren street.

The Harsimus Cove section of Jersey City was once the location of a railyard and terminal that served the Erie Railroad from 1887 until 1958 when Erie Railroad moved its passenger services to Hoboken. The Harsimus Cove neighborhood was also used by the Pennsylvania Railroad who ran a line to its 6th Street terminus, known as Harsimus Yards, through the historic Sixth Street Embankment.

Harsimus Yards was later redeveloped by Mack-Cali into Harborside Financial Center.

G&S Investors, a firm based in Port Chester, New York, is also the owner and developer of the 221,000-square-foot Metro Plaza retail center located south of the Hudson Exchange development site.



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