JLL Lists Staten Island Waterfront Development for $45M
JLL Capital Markets has been retained by Traingle Equities as sales advisor for Lighthouse Point, a newly completed, transit-oriented, Class A multifamily waterfront development located at 5 Bay St. in the St. George neighborhood of Staten Island. The asking price is $45 million.
Lighthouse Point is a mixed-use development situated adjacent to the Staten Island Ferry Terminal. Occupying the site of the historic U.S. Lighthouse Service’s General Depot, the recently completed first phase features 115 residential units.
The JLL Capital Markets Investment Sales and Advisory team representing the seller is led by senior managing directors Rob Hinckley and Jeff Julien, managing director Steven Rutman and director Devon Warren.
“Lighthouse Point presents a rare opportunity in today’s market,” said Warren. “It’s a well-conceived project in a market where new development opportunities are increasingly limited, and we think buyers will recognize both the quality of what’s been built and the potential that’s still ahead.”
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