Related, a leading real estate development company, has recently acquired a prime 1.3-acre site in Jersey City for $58 million. The property, located at 20 Christopher Columbus Street and previously owned by Veris Residential, will be developed into a luxury rental tower with approximately 800 residential units.
The transaction was facilitated by CBRE’s Jeff Dunne, Bill Shanahan, Roland Merchant and Brian Whitmer along with Cushman & Wakefield’s Andy Merin, David Bernhaut Gary Gabriel Frank DiTommaso and Ryan Dowd who represented Veris Residential in the sale.
This acquisition marks Related’s first high-rise rental project in New Jersey as they continue to expand their portfolio of upscale developments. With this strategic purchase of the Harborside 4 lot from Veris Residential , Related is poised to make its mark on the thriving Jersey City market.
