Related Acquires Development Site In Jersey City For $58M

The development site located at 136 Greene Street in Jersey City, NJ has been sold in a closed transaction. The property, with a total square footage of 58,000, was sold by Veris Residential to Related for a sale price of $58,000,000. With a price per square foot of $1,000, this development site is a significant investment opportunity.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $58,000,000
• Address: 136 Greene Street, Jersey City, NJ
• Square Footage: 58,000
• Buyer: Related
• Seller: Veris Residential
• Brokers: Adam Doneger, Adam Spies & Douglas Harmon - Newmark
• Market: Jersey City, NJ

The deal was facilitated by the brokers Adam Doneger, Adam Spies, and Douglas Harmon from Newmark. Their expertise and negotiation skills contributed to the successful transaction. This purchase demonstrates Related's confidence in the potential of this development site in Jersey City's market.