Piece by piece, LeFrak continues to build out their master planned Newport community along the waterfront in Jersey City. The latest addition is a 41-story luxury rental building, rising out of a pier directly on the waterfront, allowing for incredible water and city views
Designed by acclaimed architecture firm Arquitectonica, Ellipse is named for its unique elliptical shape. Because of its location on a former shipping pier, the ground floor needed to be raised 13 feet. To do so, 50,000 tons of fill were trucked into the site.
The building which broke ground in December 2015 features 381 residences ranging from spacious studios to four bedroom apartments, including several penthouse suites. Prices start at $2,600 for a studio and range to $5,300 for 3 bedrooms.
Downtown Jersey City recently unseated Hoboken for the first time with the highest median rents. Considering these prices, it appears that trend will continue for some time. Though still less expensive than Manhattan and parts of Brooklyn, the days of finding a significant bargain in Downtown Jersey City are slowly dwindling.