M id A tlantic Real Estate Journal — Northern New Jersey — June 2025 — 19
www.marej.com
N orthern N ew J ersey
VP Briones arranges sale of new luxury apartment building for record price per unit Kislak Sells 70 Central Lofts in Jersey City, NJ for $20 Million
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The Kislak Company, Inc., which is headquartered in Woodbridge, New Jersey, is a leading commercial real estate brokerage firm consistently rec - ognized 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
Davis Briones joined Kislak in 2014 and specializes in multifamily and other invest - ment sales in and around Hudson County, New Jersey. After his first year with Kis - lak, he received the firm’s prestigious Rookie of the Year Award, which recognizes a newer salesperson who records the greatest achievements during the year. Briones was promoted to a vice president in 2019 and in 2021 was recog - nized by the Mid Atlantic Real Estate Journal in its 30 Under 30 Spotlight. About The Kislak Co., Inc.
ERSEY CITY, NJ — The Kislak Company, Inc. announced the recent sale
of 70 Central Lofts, a new luxury apart - ment build - ing at 70 Central Ave. in Jersey City, Hudson County for $20 million.
Davis Briones
Kislak marketed the prop - erty on an exclusive basis on behalf of the seller, Legacy Development Group , with vice president Davis Briones handling the assignment and he also procured the purchas - er, 70 Central Lofts, LLC. Briones said, “This land - mark sale not only reflects the thriving Jersey City market but also sets the stage for continued growth and greater opportunity in the area. At $625,000 per unit, it is among the highest prices per unit paid for a new construction building in Jersey City.” The sale price represents the highest price per unit achieved for a 10-plus unit multifamily property in Jersey City since 2021 according to data avail - able from CoStar. Completed in 2024, the prop - erty is a five-story building with 31 apartments, a park - ing garage for 32 cars and one retail unit with 1,696 square feet of space. The building includes 7,000 s/f of amenity space for the residents’ use. The apartments have high- end finishes and feature high ceilings; kitchens with modern cabinets, quartz countertops and stainless steel appliances; full-size washers and dryers; floor to ceiling windows; solid core doors; additional insula - tion for superior sound control; and balconies in select units. The property is ideally locat - ed in the heart of Jersey City, strategically positioned on the border of Journal Square and The Heights. Conveniently located on Central Avenue between Beacon Avenue and Hopkins Avenue, the property is five minutes from the Jour - nal Square PATH Station and Hudson-Bergen Light Rail. The transaction was all cash. The seller’s attorneys were Russell Anderson and Anthony Bianco of Ber - tone Piccini LLP and the purchaser’s attorneys were from Schiller, Pittenger & Galvin, P.C.
70 Central Lofts
EXCLUSIVE PROPERTIES FOR SALE
Freehold, NJ 13,674 SF Retail Daniel Lanni ext 248
Orange, NJ 9 Residential Units Michael Salomon ext 243 Don Baxter ext 265
Union City, NJ 13 Residential Units Robert Squires ext 287
Newark, NJ 10,000± SF Retail/Office Michael Salomon ext 243 Don Baxter ext 265
Old Bridge, NJ 1,928 SF Office Condo Units Matt LoBocchiaro 908 360 8054
Mansfield, NJ 3.44 Acres with Approvals
Matt Weilheimer ext 253 Tom Scatuorchio ext 255
The Kislak Company, Inc. | kislakrealty.com | 732 750 3000
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