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Although it's only a quick train ride away from Manhattan, Jersey City, New Jersey has yet to establish itself as a desired location despite being a cheaper housing alternative to the Big Apple.

But, with the Jersey Squared Development project set to finish by December, there is hope of a new, New Jersey urbanism movement. Developed by Manhattan-based Firm HWKN, the building is the first of three set to occupy 2.4 million square feet featuring 1,838 units.

“Jersey City started to rethink high-density about seven years ago,” said Mr. Kushner.

The majority of the units will be studios and one-bedrooms, with the studios averaging in $1,900 worth of rent. Luxury features will include a two-story fitness center, outdoor pool, and high-floor lounge overlooking Manhattan.

The combination of transit feasibility along with the tight and expensive Manhattan rental-market is sure to make the Jersey Squared Project a success and call for further development within Jersey City.

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Cerco Funding LLC is a New York-based real estate private equity firm. Cerco acts as a direct portfolio lender originating commercial bridge loans nationwide. Cerco has extended capital for acquisitions, refinancings, repositionings, and a host of special situations.

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CERCO FUNDING LLC
Address 230 Central Park South, PH17
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New York, USA
Phone +1 (646) 435-7080
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