LeFrak's Jersey City Skyscraper Development to Learn It's Fate Next Month

LeFrak Organization, a significant player in real estate development, is set to embark on its most ambitious project in Jersey City yet. The company aims to secure final site approval for a towering structure at 20 Long Slip during the upcoming city planning board meeting.

Transforming Newport District

The proposed development marks a significant addition to the Newport district, a meticulously planned urban area by LeFrak spanning numerous acres of former industrial land. Once completed, the tower will stand as the tallest and northernmost building within this district.

Luxury Living Concept

The project encompasses a trio of buildings, with the focal point being a luxury apartment tower comprising 1,100 units. Designed by Arquitectonica and Hill West, the centerpiece structure at 20 Long Slip will soar 47 stories high. The amenities promise an upscale living experience, featuring a variety of recreational spaces such as a wraparound terrace, game room, clubhouse, co-working area, and fitness center, alongside 2,400 square feet of retail space.

Construction Timeline

Construction is slated to commence following the completion of LeFrak's previous project, the Bisby, which reached its peak last summer.

LeFrak's Impact on Jersey City

LeFrak's influence extends beyond this particular project, as the company has significantly transformed the Jersey City waterfront over the years. With an extensive portfolio comprising millions of square feet in office space and thousands of residential units, LeFrak remains a key player in the region's real estate landscape. Furthermore, the company is undergoing a leadership transition with Richard LeFrak's gradual withdrawal from day-to-day management.

Dynamic Real Estate Scene

Jersey City's real estate sector continues to witness dynamic growth, with multiple developers contributing to its expansion. Notably, Tishman Speyer recently acquired land from Goldman Sachs and commenced construction on a high-rise development at 55 Hudson Street, slated for completion in 2027.

Future Endeavors

Tishman Speyer's ambitious project at 55 Hudson Street is just the beginning, as the company gears up for another venture at 50 Hudson, demonstrating the ongoing momentum in Jersey City's multifamily construction market.