Listed by Marcus & Millichap - New Jersey
$4,000,000
Jersey City Heights Development
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 35,657
Units 51
Stories 10
Acreage 0.150
Parking Spaces 11 spaces
Parking per 1,000 SqFt 0.31
Multifamily | 51 Units
Marketing description
Marcus & Millichap is pleased to exclusively present 216 Palisade Avenue, Jersey City, Hudson County, New Jersey.
Investment highlights
- Fully Approved 10-Story, 51-Unit Age-restricted (62+) Multifamily Development Site In The Heights Section Of Jersey City, Hudson County, New Jersey
- Rare Shovel-ready Development Opportunity in One of the Most Supply-Constrained and Institutionally Favored Multifamily Markets in the Northeast
- Prime Palisade Avenue Location – Within Jersey City's Medical District - With Immediate Access to Hoboken, Downtown Jersey City, Hoboken Path, Newport Retail Corridor, And Direct Manhattan Connectivity
- Highly Differentiated 62+ Housing Product Designed To Capture Growing Demand From Local Downsizers, Long-time Jersey City Residents, and Seniors Seeking Urban Walkability
- Approved For 35,657 Rentable Square Feet With an Efficient 699 SF Average Unit Size Across 51 Residential Units
- Institutional-quality Building Includes Rooftop Amenity Deck, Fitness Center, Bike Storage, Private Balconies on Select Units, and Skyline-Oriented Views 11 On-Site Parking Spaces Including Mechanical Spaces, EV Charging, and ADA Parking
- Elevated Site Positioning Offers Premium Rear-Facing Residences With Downtown Jersey City and Manhattan Skyline Exposure
- Exceptional Surrounding Density With Over 623,000 Residents, 1.08 Million Employees, and $150,000+ Average Household Income Within Three Miles Of The Subject Property
- Strategically Positioned Near Major Transportation Infrastructure Including Interstate 78, Route 9, Route 495, and the New Jersey Turnpike
Listing Contacts
Listed by Marcus & Millichap - New Jersey
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