Posted Mar 15, 2015, 12:50 AM
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Greetings from New Jersey
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Join Date: Mar 2009
Location: North Jersey
Posts: 3,278
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Property for possible Journal Square luxury tower up for sale
By Terrence T. McDonald | The Jersey Journal
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on March 10, 2015 at 7:59 AM, updated March 10, 2015 at 8:38 AM
A proposed rendering of how a 42-story tower would look in Jersey City's Hilltop neighborhood. Rendering courtesy of Cushman & Wakefield.
Commercial real-estate firm Cushman & Wakefield is seeking buyers for a Summit Avenue property that could one day be the location a 42-story tower opposed by local residents.
The New York-based firm is brokering a deal to sell the property, now owned by Ayner Netter, to developers seeking to build in the newly lucrative Journal Square area. And the firm is using the possibility of a residential tower on the location to lure buyers.
In 2012, Jersey City brokered a deal with Netter that allows him to build up to 42 stories at 500 Summit Ave., across the street and just a bit south from the PATH transportation hub.
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http://www.nj.com/jjournal-news/inde...l#incart_river
Last edited by Nexis4Jersey; Mar 27, 2015 at 9:23 PM.
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