18B — August 23 - September 12, 2019 — Owners, Developers & Managers — M id A tlantic
Real Estate Journal
www.marej.com
O wners , D evelopers & M anagers
UDSON COUNTY, NJ — In New Jer- sey’s geographically Up-and-coming districts continue to attract value-add investment 106 apartment units sold for $16.29 million by Gebroe-Hammer in Jersey City &Union City, NJ H
New York City’s sixth bor- ough, Hudson County has been undergoing a two-decade population boom where the renter base is expected to swell even more in the foreseeable future. “Today’s tenant base has done more than define and set a new lifestyle choice into motion – they have paved the way for the next generation of apartment renters who are saddled with all-time- high student-loan debt that makes homeownership even less appealing and/or attain- able than it was for their now-established millennial counterparts,” said Nicolaou, the firm’s Hudson County market specialist. “Because of this trend – as well as the new rent-control laws slamming New York City apartment building owners – the tenant and investment pipelines are plentiful. The only challenge seems to be supply on both fronts to meet demand.” One of Hudson County’s newest emerging neighbor- hoods is Jersey City’s McGin- ley Square, where Summit Apartments is located. Ideally situated, McGinley Square is the true heart of Jersey City, intersecting at Montgomery St. (connecting Downtown to Exchange Place and the West Side) and Bergen Ave. (con- necting Greenville to Journal Square). Built in 1925, Sum- mit Apartments is a 51-unit historic four-story walkup half a block from the commercial district along Montgomery Street and NJ Transit bus service along Baldwin Ave. It also is a short walk to Midtown Manhattan Direct PATH train service at Journal Square Transit Center. of Allentown, PA. Solid wood tables and banquettes were manufactured and installed by JAJ Custom Furniture of NY with custom upholstered dining chairs and bar stools by Shelby Williams. To bring sophistication to the setting, wall insets were treated with a textured Phillip Jeffries wallcovering. The flooring was also changed by DesignPoint to a sleek 48”x6” porcelain tile with a wood grain appearance. Lastly, in order to maintain attractive accessibility to both floor elevations, DesignPoint
“Established, historical- ly well-occupied properties like Summit Apartments are poised to benefit from sweep- ing revitalization and redevel- opment initiatives being un- dertaken in McGinley Square by public officials and private investors in recent years,” said Nicolaou, who noted the property sold for $9.19 million. “This trendy and new upmar- ket district is evolving quickly thanks to smart-growth revi- talization that leverages its residential, commercial and ‘things-to-do’ appeal.” Five miles to the north, the 55-unit 4501 Cottage St. prop- erty rests in the heart of Union City, another up-and-coming Hudson County municipality. Situated between Bergenline Avenue – the region’s primary commercial corridor – and JFKBlvd., the all-brick-façade four-story walkup sold for $7.1M. “Thanks to a wave devel- opment that began in 2003, Union City’s rise often draws comparisons to that of Hobo- ken because of its new restau- rants, bars, art galleries and value-add multi-family prop- erty investment,” explained Nicolaou. “At the core of this renaissance is the longest com- mercial stretch in the state – Bergenline Ave., where there are over 300 retail stores and restaurants the run Union City’s entire length from north to south.” With a focus on suburban garden-apartment and urban mid- and high-rise properties, Gebroe-Hammer’s geographic areas of concentration are centered in New Jersey and extend to southeast Pennsyl- vania and southern New York State. completed their design with a combination stair and ramp near the center of the addi- tion. Its elegance promotes the engaging atmosphere Northampton was looking to achieve, with a fluid transition between the existing space and new. Whenever confronted with a design challenge, feel free to contact DesignPoint Interiors and they will meet with you to discuss your expectations from concept to completion. Les M. McCoy, IIDA is founder & president of DesignPoint.
effective way of doing this is creating as much distance as possible from the entrances of the building to the uncon- trolled/public space. The longer it takes to transit the space the more likely it is that someone will notice. We commonly for- get that each perimeter layer provides an opportunity to delay. Perimeter layers are: – Layer 1 – property boundary – Layer 2 – exterior enclave or enclosure – Layer 3 – facility façade or elevation – Layer 4 – internal enclave or controlled/restricted space And, each provides an opportu- nity to deter, detect and defend the space. • Third, detect bad behavior by limiting the number of ac- cess points, so that someone attempting to enter in a differ- ent fashion will stand-out and be noticed. The use of combined landscaping; i.e., rocks, mean- dering pathways, shrubs, trees, water obstacles can be very effective tools in channeling persons to the correct access point. Another good design tool is to make walkways pass by windows where people in the building, either from their workstations or a group space, such as, a break room, will be able to see people approaching. In the 80’s we relied on security guards to do the watching for us. As man-power cost rose over the next couple of de- cades, we replaced the guards and started to rely heavily on electronic security systems (ESS); i.e., Close Circuit Televi- sion (CCTV) or Access Control Systems (ACS). While ESS is a great force multiplier, I submit that by designing approaches to the building so that they can be observed by persons inside smallest – yet most-densely populated – county of Hudson, Gebroe-Hammer Associates has arranged the sale of 106 apartment-rental units sold for a combined $16.29 million. The firm’s Executive Vice President Niko Nicolaou exclusively rep- resented the two separate sell- ers and procured the buyers of 246 Summit Ave. and 4501 Cottage St., in Jersey City and Union City, respectively. Commonly referred to as
4501 Cottage St., in Jersey City
continued from page 2B Architects and engineers are the key to . . .
will add tremendous detection capability and reduce long term costs in maintaining and monitoring the ESS systems. Some assistance is provided by biometrics and analytical video but remember technology is a tool to be used by a human. A recent article in the Chicago Tribune reported that less than one half of one percent of crime is solved by cameras. • And finally, the fourth element of design is to defend against bad behavior. One of the most common mistakes in using too much technol- ogy is that the requirement to respond to bad behavior is for- gotten. Therefore, a response force must be readily available, well-trained through drills and exercises and they must be well-equipped. In summary, two of the four mitigation strategies have to do with what the people in the building do and don’t really fall under A&E. That said; how- ever, architects and engineers can design the space, so that those non-A&E functions are “super effective”. Remember, the building does not have to look like a fortress in order to be secure. By working together, architects, engineers, planners, facility managers and security profes- sional can ensure it is aestheti- cally pleasing and still provides adequate measures of security that are transparent to the public. When these disciplines collaborate and security is incorporated at the beginning of the project, an immediate gain can be realized in keep- ing the project costs down and in the long term by limiting the need for maintenance and manpower. The reliance on physical se- curity engineering will become
paramount as we use inhabited space to mitigate unwanted behaviors and reduce its ef- fects. We cannot lose sight of the human aspect of using new technologies as we move forward. The use of invasive technologies will need to give way to non-intrusive tech- nologies. We want users of the space to do the right thing because it’s the right thing to do not because “Big Brother” is watching them. I call this shift “the Puppy Movement”. Creating an en- vironment where people feel protected and protecting, like when they cuddle a puppy. They get that sense of security. The use of colors, a variety of natural building materials, water, lighting and even a meandering sidewalk all add to the “puppy” concept. That’s actually the feeling we should be striving to achieve as we de- sign the built-up environments of the future. When people feel safe in the space they tend to use it more. When security is a “tax” or burden people will either avoid the space or figure out a way to circumvent the security solu- tion. While being cumbersome is actually a delay mechanism that we should use to assist us in assessing behavior and is useful on its own, the problem comes from the frenetic pace of today’s society. In short, people don’t want to be bothered. Where there is good quality of life, people want to live and raise their families. The true measure of a Smart or Safe City is a place where the grand- kids want to live and raise their families! Doug Haines is owner/ CEO of Haines Security Solutions, LLC in Ventura, CA.
continued from page 8B Country Club Reinvigorated!
Made with FlippingBook - Online Brochure Maker