Rockpoint, a Boston-based real estate private equity firm, has entered into a joint venture with hospitality-driven multifamily developer Urby to acquire land and build a new residential tower on the Jersey City waterfront. The partners plan to advance a large-scale multifamily project positioned along the Hudson River, adding new high-rise housing stock to one of the most active rental corridors in the New York metro area.
The venture’s planned high-rise will rise 69 stories and be branded as 201 Hudson – by Urby. When completed, the tower is expected to deliver 748 market-rate apartments in a mix of studio, one-, two-, and three-bedroom layouts. The residential component is designed to address demand for a range of unit sizes, targeting renters seeking modern product within close reach of Manhattan and the broader New York employment base.
Beyond the residential program, the project will incorporate a street-level retail component and on-site parking. Plans call for approximately 10,000 square feet of retail, which is expected to activate the surrounding streetscape and support neighborhood-serving uses. The site will also include 102 surface parking spaces, adding vehicular convenience in a waterfront district that is heavily oriented around transit and pedestrian traffic.
201 Hudson – by Urby represents the second phase of a three-tower multifamily master plan in this section of the Jersey City waterfront. By advancing the next installment of the multi-phase build-out, the partners are extending a larger vision for a clustered residential community that will add significant critical mass to the local rental market once all phases are realized.
Under the joint venture structure, Urby will co-manage both construction and development responsibilities. Following completion, Urby will also take a leading role in ongoing property management and leasing, working in partnership with Rockhill, the property services affiliate of Rockpoint. This arrangement creates continuity from development through operations, aligning the interests of the equity sponsor, development platform, and management team.
Commenting on the strategy, Rockpoint chief operating officer Dan Domb stated that the Jersey City waterfront continues to stand out as one of the most compelling multifamily submarkets in the New York metro area. He cited strong demographic trends, ongoing public and private investment, and exceptional transportation access to Manhattan as key drivers supporting the venture’s development thesis and the broader master plan.
On the advisory side, Newmark’s capital markets team worked with both Rockpoint and Urby on the transaction. The assignment was led by Adam Spies, co-head of U.S. Capital Markets, along with executive vice chairman Adam Doneger and managing director Michael Collins. The parties did not disclose financial terms related to the land acquisition or the overall development capitalization for 201 Hudson – by Urby.
