Posted Sep 22, 2023, 10:10 PM
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NYC/NJ/Miami-Dade
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Join Date: Jul 2013
Location: Great State of NJ
Posts: 49,333
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Long-awaited 1 Journal Square project on track as neighborhood continues to reach for the sky
Sep. 18, 2023
Quote:
[...]
With the Journal Squared project nearly complete, its business as a transformative, new type of development for the neighborhood may offer a hint of what’s to come for its peers.
Jonathan Kushner said the available units have a 99.5% occupancy rate with about 65% retention. Of the tenants, about 30% are coming from New York City, 30% are coming from Hudson County and 20% are coming from elsewhere in New Jersey, the KRE president said. The cheapest unit currently available is a one-bedroom listed for $2,956.
Though the project is just six months from completion, Kushner said he’s ready to jump in on the next one.
That project will be two more skyscrapers, 55- and 49-story towers behind the historic Loew’s Jersey Theater, and it will likely be breaking ground next year, Kushner said.
“We love the neighborhood and we’re continuing to buy in the neighborhood, so hopefully more to come,” he said.
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https://www.nj.com/hudson/2023/09/long-a...to-reach-for-the-sky.html?outputType=amp
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