M id A tlantic Real Estate Journal — Owners, Developers & Managers — July 2025 — 35
www.marej.com
O wners , D evelopers & M anagers
Designed by CPA Architecture, the 248-unit bldg. follows the successful lease-up of Phase One Malas Development acquires 2nd site in Teaneck, NJ to advance next phase of The Marq
EANECK, NJ — Ma- las Development has closed on the acquisition of 2.5 acres at 359 Alfred Ave. in Teaneck, NJ, clearing the way for the second phase of The Marq, the luxury rental com- munity that has quickly gained traction in Bergen County’s competitive residential market. Demolition of the former in- dustrial building on the site is currently underway, with con- struction to begin in mid-July on a new six-story development that will add 248 rental resi- dences to the community. The project builds on the success of the first phase of The Marq, where 80% of the 256 apart- ments have been leased just months after opening. Designed by CPA Archi- tecture , the second phase will introduce a new collection of studio to three-bedroom homes, complemented by an elevated amenity package that includes sauna and massage rooms, co-working areas, sport simulator, landscaped court- yard with pool, and a rooftop terrace. Completion is slated for the fourth quarter of 2026. “The first building at The Marq has exceeded expectations, both in terms of leasing velocity and the overall resident ex- perience,” said Mark Malas , managing member of Malas Development. “With demand remaining strong, we’re mov- ing forward with the next phase to complete the vision for a cohesive, upscale residen- tial destination in this well- connected pocket of Teaneck.” The acquisition and launch of construction mark the final step in Malas Develop - ment’s effort to transform a light industrial stretch of Alfred Avenue into a vi- brant residential enclave. Together, both phases of The Marq will deliver over 500 new residences minutes from the George Washington Bridge and key northern New Jersey business and retail centers. The first building, located at 329 Alfred Ave., features a mix of studio, one- and two-bedroom layouts, includ- ing loft-style homes on the top floor. Rents start from $2,495, with limited-time in- centives currently available. The building is now home to more than 150 residents. Residences at The Marq are appointed with modern T
finishes, including spa-in- spired baths, in-unit washer/ dryers, spacious walk-in clos- ets, and luxury kitchens with full-size stainless-steel appli- ances, quartz countertops, and soft-close cabinetry. Select homes feature soaring ceilings, private balconies, and large kitchen islands. Residents also enjoy access to a full suite of indoor and outdoor amenities, such as a landscaped courtyard with a pool and fire pits, co-working spaces, private conference rooms, resident lounges, pet spa, concierge service, and a
fully equipped fitness center. On-site parking with EV charging, package lockers, bike storage, and secure ac- cess round out the offerings. The Marq is located near the Cedar Lane shopping district and downtown En- glewood, with proximity to major retail destinations like The Shops at River- side. Cultural venues such as Bergen PAC are also nearby. Commuters benefit from quick access to Rtes. 4, 80, and 95, as well as NJ Transit bus service into Manhattan. MAREJ
The Marq Phase II
HUTCHINSON HAS IT! E n E r g y S o l u t i o n S E x p E r t i S E
New Construction or Retrofit? We’ll Get it Done Right. Hutchinson’s experienced technicians and project managers specialize in designing and installing HVAC systems for commercial, industrial and institutional projects. Whether you’re starting from scratch or upgrading an existing system, we handle both new builds and retrofits with a focus on energy efficiency and cost savings. We’re known for our expertise in Design Build projects, delivering smart HVAC solutions tailored to your needs. From minor renovations to full-scale HVAC/ energy/plumbing systems, Hutchinson offers a full range of design build, and construction services. CONTACT US TODAY TO CONNECT WITH ONE OF OUR ENERGY EXPERTS!
William A. Hutchinson Jr. LMP, Plumbing Lic. #5041. Anthony V. Schiavone, Master HVACR HIC#19HC00055300 HVAC H ENERGY EFFICIENCY H MECHANICAL SERVICES H PLUMBING 888-777-4501 • HUTCHBIZ.com
Made with FlippingBook Annual report maker