The Albanese Organization, BXP and CrossHarbor Capital Partners broke ground on 290 Coles St., a $400-million residential development in Jersey City. Located in the city’s evolving SoHo West neighborhood, near the Hoboken border, the development will deliver 670 apartments, complemented by 13,000 square feet of street-level retail and more than 60,000 square feet of indoor and outdoor amenity spaces.
Leadership from the development partnership hosted Mayor Steven Fulop, other city officials and local dignitaries to mark the start of construction.
“Breaking ground at 290 Coles reflects our continued belief in Jersey City as a great place to live and work, and our commitment to helping shape its future in thoughtful and lasting ways,” said Chris Albanese, president of the Albanese Organization. “This project represents more than new housing; it’s a meaningful step in further establishing SoHo West as a vibrant, integrated community. We’re proud to partner with BXP and CrossHarbor to bring this vision to life.”
Marcus & Millichap completed the sale and financing of 884 and 939 Palm Ave., two multifamily properties totaling 72 units in West Hollywood. The assets traded for $29.85 million, or $414,583 per unit. Tony Azzi and Rabbie Banafsheha of The Azzi Group of Marcus & Millichap exclusively represented the seller, a private family investor. Azzi,...
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JLL Capital Markets arranged a $154.25-million refinancing for Greybarn Amityville, a mixed-use residential property in Amityville, NY, owned by Rechler Equity Partners. Senior managing directors Peter Rotchford and Andrew Scandalios and director Clayton Ross arranged the financing through PCCP, LLC. “Lenders are looking closely at how a multifamily property performs today and at the owner’s...
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RioCan is shifting $235M in residential development assets toward commercial uses, a move disclosed in its third-quarter results that raises questions about plans for an approved 80-storey condominium tower on Toronto’s Mink Mile. The tower at 83–95A Bloor St. W., planned with Parallax, received zoning approval in December 2024. But RioCan’s latest financial statements identify...
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