When it comes to new construction in Jersey City’s Journal Square, no firm is more prominent than Kushner Real Estate Group, which has continued development of the massive Journal Squared complex with the recent ground-breaking of the project’s second skyscraper, now climbing above ground level. YIMBY spoke with the firm’s eponymous president, Jonathan Kushner, to discuss the site and its impending second and third towers, KREG’s general portfolio growth, as well as Mr. Kushner’s outlook on the state of the neighborhood and the local market.
Located in Greenwood Heights at 185 18th Street, a new upcoming residential building named Arbor Eighteen just launched sales. With eleven stories consisting of 73 condominiums, the project is designed by Isaac & Stern Architects with interiors carried out by Paris Forino. The developers are Adam America and CGI Strategies. Halstead Property Development Marketing’s The Aguayo Team is handling the marketing and sales for Arbor Eighteen.
The Georgetown Company has announced a new $410 million financing package for their recently completed office building at 787 Eleventh Avenue. According to the company, the investment from Societe Generale (SocGen) replaces a $350 million construction loan from the Blackstone Group, Goldman Sachs, and ICBC.
Permits have been filed for a ten-story commercial building at 171 Bowery, on the Lower East Side of Manhattan. Located between Broome Street and Delancey Street, the interior lot is two blocks north of the Grand Street subway station, serviced by the B and D trains. Grant Shapolsky of Shapolsky Real Estate is listed as the owner behind the applications, under Prime Manhattan Development LLC.
After topping-out at the end of 2018, 99 Hudson Street has become the tallest skyscraper in both Jersey City and all of New Jersey, standing 900 feet to its rooftop. The 79-story residential building will have 781 units with perfect uninterrupted views of the World Trade Center, the morning sun, and afternoon sunsets to the west. Perkins Eastman is the designer of the tower, while the developer is China Overseas America. Plaza Construction is the main contractor, while DeSimone Consulting Engineers is the structural engineer. Vidaris is in charge of the facade, which is now quickly making its way towards the crown.