April 2023

6C — April 2023 — Owners, Developers & Managers — M id A tlantic Real Estate Journal

www.marej.com

O wners , D evelopers & M anagers

Luxury high-rise apartments, adjacent to Nationals Park Jefferson Apartment Group’s J Coopers Row tops out

EVP Bortz arranges sale in Orange County Kislak sells Paltz River Apartments in New York

ASHINGTON, DC — Standing at 110 feet and 12 stories,

J Coopers Row—a Jefferson Apartment Group (JAG) joint venture with The Fortis Company —has topped out at 1319 South Capitol Street SW in Washington, DC. The lux - ury multifamily development overlooks Nationals Park in the active Capitol Riverfront submarket and is expected to deliver in Q4. J Coopers Row will comprise 312 apartments and will pre - serve some elements of pre- existing rowhomes into the project. The unit mix includes studios, one-, two- and three- bedrooms ranging from 474 to 1,260 s/f. “We’re excited to reach the topping out milestone on this development,” said Greg Van Wie , JAG senior vice presi - dent, development partner. “The high-rise structure is complete, which means we’re closer to seeing the build - ing’s personality take shape. The character of the existing rowhomes inspired the ar - chitectural feel of the facade, which incorporates similar brickwork patterns and details to integrate the new building into the fabric of the Capitol Riverfront neighborhood.” The amenities package at J Coopers Row reflects JAG’s luxury signature, as well as its setting. The rooftop swim - ming pool with multi-level

1319 South Capitol Street SW in Washington, DC

Orange County near a major employment and transportation network (New York State Thru - way and I-84). “Montgomery is a very charming Hudson Valley town and sought after to rent or own homes. To acquire newer construction with in-place ap - provals for additional units was a unique and excellent opportu - nity,” Bortz emphasized. Future plans for the prop - erty include updating the ex - isting units and developing the additional units at competitive market rental rates. Financing was provided by M&T Bank . Janet Bortz joined Kislak in 2002 and is a leading producer at the firm and in New York’s Hudson Valley where she specializes in the sale of in - vestment properties including multifamily, retail, office, and industrial assets. Ms. Bortz represents individual owners, multigenerational private investors, real estate firms and institutional clients in the acquisition and disposition of investment real estate. Her recent transactions included several multifamily sales in New York for more than $100 million. Ms. Bortz is a licensed real estate salesperson in New York and New Jersey. About The Kislak Co. The Kislak Company, Inc., which is headquartered in Woodbridge, NJ, is a leading commercial real estate broker - age firm consistently recog - nized for its investment sales success. Established in 1906, Kislak’s market leadership po - sition and longevity are due to its ability to offer clients a per - sonalized, hands-on approach, coupled with the unrivaled expertise of its long-tenured team of professionals. Kislak’s prestigious client base includes individual investors and own - ers, partnerships, financial institutions, and REITs. MAREJ

WOODBRIDGE, NJ — The Kislak Company, Inc. announced the recent sale of

sundeck and grilling area showcases Nationals Park stadium directly across the street, so close that residents will be able to see the score - board. Lifestyle amenities also include a top floor lounge with gaming, leading-edge fitness center, yoga studio, co-working areas, a maker’s studio, a dog run, pet spa, and 24/7 concierge service. All the units feature top- of-market finishes including gourmet kitchens with islands, tile backsplash, stainless steel appliances, airy 9-foot ceilings, sleek plank flooring, and in- unit washers and dryers. In addition, they feature private balconies, many with views of the Potomac River and the U.S. Capitol. J Coopers Row sits at the corner of South Capitol and N streets on the site of the

former World War IIera James T. Warring Sons factory where barrels and shipping contain - ers were manufactured for the nearby Navy Yard. The name J Coopers Row is a nod to that history as workers who make wooden barrels have been called “coopers” since colonial times. The development is one block from the Navy Yard- Nationals Stadium Metro station on the Green Line and is walkable to Audi Field and nearby neighborhood ameni - ties including The Yards, The Boilermaker Shops, the Navy Yard, the Southwest Water - front and The Wharf. It’s just a 5-minute walk to water taxi services to Georgetown, Old Town Alexandria and the Na - tional Harbor. In addition, the location affords easy access to I-695 and I-395. MAREJ

Paltz River Apartments, a 20-unit apartment c o mp l e x at 901 Mill Place in Montgom - ery, Orange County, for

Janet Bortz

$3,475,000. The sale included land with approvals to build another 38 units. In total, the 20-unit property and land for 38 units encompass 6.7 acres. Kislak marked the property on an exclusive basis with ex - ecutive vice president Janet Bortz handling the assign - ment on behalf of the seller Tower Paltz River 2015, LLC, a longtime Kislak for whom Bortz has completed multiple investment sales transactions. She also procured the pur - chaser, Paltz River Apts., Inc. Bortz said, “The purchaser owns and has developed multi - family properties in the Orange County market. They were able to purchase the existing units with below market rents and can add 38 units contiguous to the existing 20 units.” Built in 1996, the property in - cludes 20 fully occupied units as well as land approved for 38 ad - ditional rental units in four new buildings which will contain 12 one-bedroom and 26 two- bedroom units with 76 surface parking spaces. The existing property consists of four one- bedroom and 16 two-bedroom units in excellent condition. The spacious units include separate dining rooms, either a balcony or patio, dishwashers, and in- unit washers and dryers. The two-story, pitched roof, garden style apartments are sit - uated in a picturesque environ - ment surrounded by a natural woodland setting in southern

JLL’s Hotels and Hospitality Group closes sale of the EnVue Autograph Collection Port Imperial and Residence Inn Port Imperial

WEEHAWKEN, NJ — JLL’s Hotels & Hospitality Group has closed the sale of two Marriott brand hotels totaling 372 keys along the Hudson River in Weehawken,. JLL represented the seller, Veris Residential , in the all- equity sale to Navika Capital Group, LLC. The portfolio includes the 208-key EnVue Autograph Collection Port Imperial and the 164-key Residence Inn Port Imperial. The hotels, which opened in 2019 and 2018, respectively, operate under one building complex at the center of the $4 billion mixed-use development that is in the final phases at Port Imperial. The property fea - tures a collective 15,000 s/f of outdoor space, over 27,000 s/f of meeting and conference space, a fully equipped fitness

Port Imperial Hotel

can easily visit New York’s biggest attractions, including Hudson Yard, The High Line, Penn Station, Wall Street, The Battery, New York City Hall, The One World Trade Center and more. Furthermore, the hotel is proximate to Newark Liberty International Airport. JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totaling $83 billion worldwide. MAREJ Residence Inn Port Imperial

center and unobstructed views of the NYC Skyline. Situated along the Hudson River and located immediately adjacent to the Port Imperial Ferry Terminal, the hotels provide guests with seamless access to Manhattan via the NY Waterways ferry, which provides regular service to the West 39th Street Ferry Ter - minal in Midtown Manhattan and the Brookfield Place and Pier 11 Terminals in down - town Manhattan. As a result of this connectivity, guests

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