16 — June 2026 — Northern New Jersey — M id A tlantic Real Estate Journal
www.marej.com
N orthern N ew J ersey
NJEDA, SOSA launch innovation hub NJ BASE opens in Jersey City for global business expansion
For 77-unit, multifamily in Newark, NJ Drew Capital secures $16.25M in construction financing
NEWARK, NJ — Drew Capital , a commercial mort- gage brokerage based in Jack- son, NJ, has secured $16.25 million in construction financ - ing toward the development of Central Pointe, a 77-unit multifamily property in the University Heights neighbor- hood of Newark. The loan was arranged by Akiva Drew , founder of Drew Capital. The six-story structure will be located at 380 Central Ave. between First St. and Morris Ave. It will stand in close proximity to the New Jersey Institute of Technol- ogy and University Hospital. The building is scheduled for completion in the summer of 2027. The 77 residential units rep- resent six studio apartments, 29 one-bedroom units. and 42 two-bedroom spaces. Sixteen units will be designated as af- fordable. The property’s gross size is 101,950 s/f, with a net rentable area of 77,000 s/f. Central Pointe will offer
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ERSEY CITY, NJ — The New Jersey Economic Development Author- ity (NJEDA) and global in- novation execution company, SOSA officially cut the ribbon on the New Jersey Business Acceleration and Soft-Landing Ecosystem (NJ BASE). NJ BASE will serve as a landing pad for international compa- nies looking to establish and scale their operations in the United States, supporting expansion, attracting invest- ment, and creating high qual- ity jobs in industries vital to New Jersey’s economic future. Located at 3 Second St., NJ BASE will house 15-20 compa - nies as a first cohort. The class A space, which is in close prox- imity to public transit, is more than 7,200 s/f and includes amenities such as conference facilities and event space. “The NJEDA is excited to welcome international compa- nies to the Garden State and support their long-term growth in New Jersey,” said NJEDA CEO Evan Weiss . “Through strategic investments in inno- vation, entrepreneurship, and workforce development, New Jersey continues to strengthen its position as a global destina- tion for business and talent. NJ BASE will provide interna - tional entrepreneurs with the resources, partnerships, and support they need to scale their companies, foster collaboration, and contribute to a stronger and more dynamic innovation economy across the state.” NJ BASE will focus on at - tracting international com- panies in industries that are critical to New Jersey’s econ- omy, such as cyber security, artificial intelligence, fintech, and other types of innovative technologies and services. The center will allow a business to establish itself in New Jersey, with access to the larger U.S. market, so businesses can then expand, attract invest- ment, and create high quality, long-term jobs. “ Choose New Jersey is proud to partner with the NJEDA and SOSA in launch- ing NJ BASE,” said Amy Herbold , president and CEO of Choose New Jersey. “As we continue to promote New Jersey globally, NJ BASE ex - pands our capacity to attract high-growth international companies and support their successful entry into the U.S. market. This initiative is a
residents a state-of-the-art fitness center, co-working lounges, communal spaces, private balconies, and a rooftop garden. The building was de- signed by INOA Architecture . The borrowers were Jeff Blau and Eitan Chakov of Giga Holdings of New- ark. Drew Capital arranged the loan through Trevian Capital , a New York-based provider of commercial real estate financing. “Central Pointe is contrib - uting to the revitalization of downtown Newark,” said Drew. “Drew Capital is proud to work with the ownership team in helping to bring economic growth back to a previously underutilized corridor.” MAREJ Central Pointe rendering
NJEDA and global innovation execution company, SOSA officially cut the ribbon on the New Jersey Business Acceleration and Soft-Landing Ecosystem (NJ BASE).
meaningful addition to our innovation ecosystem and further solidifies New Jersey’s standing as a leading destina- tion for global business expan- sion and investment.” Operated by SOSA, NJ BASE’s Business Immer - sion Program will provide free, high-quality co-working space and hands-on support across go-to-market strategy, operations, and financing to international companies, connecting participants to the Garden State’s corpora- tions, investors, and inno- vation ecosystem partners. Participating companies will benefit from access to tailored mentorship, strategic intro- ductions, and high-impact en- gagements designed to equip companies with the resources and relationships needed to fuel long-term growth. New Jersey’s proximity to New York, Philadelphia, Boston and Washington, D.C., com- bined with access to the North- east Corridor, Newark Liberty International Airport and Port Newark, makes it a prime U.S. gateway for international busi- ness, trade and investment. “What we opened isn’t just an office space. It’s a commitment to the founders coming here, that they will walk into an operation that’s already done the work of understanding where the real opportunities are. And they will be matched, deliberately and personally, with the people who can turn their work into something meaningful,” said Uzi Schef- fer , CEO of SOSA. “I want to thank the NJEDA for the trust and Choose New Jersey for working with us on this project and for the close collaboration.” “With access to top-tier tal- ent, proximity to world-class cities, and strong state support for innovation, New Jersey is
becoming an increasingly at- tractive destination for inter- national companies looking to grow and expand,” said NJEDA director of International Inno- vation Andrew H Gross . “The launch of NJ BASE will help attract global leaders in key strategic industries, strength- en New Jersey’s long-term eco- nomic competitiveness, create high-quality jobs, and deepen international partnerships.” “Hudson County is proud to welcome NJ BASE to Jersey City as a powerful new hub for international innovation, en- trepreneurship, and economic opportunity. This initiative re- inforces our County’s position as a gateway to global busi- ness and a leader in attracting cutting-edge industries that create high-quality jobs for our residents,” said Craig Guy , Hudson County executive. “With its strategic location, ac- cess to world-class transit, and proximity to New York City, Jersey City is the ideal home for companies to establish and grow their presence in the United States. I commend the New Jersey Economic Develop- ment Authority and SOSA for their vision and partnership in bringing this exciting invest- ment to Hudson County.” “Jersey City is the natural home for NJ BASE. We are New Jersey’s gateway to the global economy, and the home of one of the most diverse, dynamic, and connected busi- ness communities in the coun- try. International companies choosing to plant their flag here will find exactly what they need to grow: world-class tal- ent, easy access to the broader Northeast Corridor, and a city government that is genuinely committed to partnering with the innovation economy,” said Jersey City Mayor James Solomon .” MAREJ
Sterling Properties Group & Danbro Props. unveil rental community in Livingston
LIVINGSTON, NJ — Exec - utives from Sterling Proper- ties and Danbro Properties were joined by project partners today to celebrate the opening of Canterly Place, a new 300- unit luxury rental community located at 51 Okner Parkway in Livingston. The community features 300 one, two and three-bedroom apartment homes equipped with quartz countertops, stainless steel appliances, kitchen islands, in-unit wash- ers and dryers, custom closet systems, rain showers, and ceilings reaching up to 10 feet in height. Select residences also feature private balconies and terraces, while some homes include floor-to-ceiling windows that maximize natu- ral light and views. The build- ing consists of 240 market rates units and 60 affordable units, with a select amount allocated to Jewish Services for the Intellectually and Developmentally Disabled. “Our vision for Canterly Place was to create more than just apartments,” said W ayne Zuckerman , founding mem- ber and principal of Sterling Properties Group. “We wanted to build a destination where residents can connect with neighbors, enjoy best-in-class amenities and experience the
Canterly Place
convenience and lifestyle ben- efits that have become increas - ingly important to today’s renters. The response we’ve received throughout develop- ment reinforces that this type of community is exactly what the market is looking for.” “The success of Canterly Place is the result of a tremen - dous collaboration between our internal team and an outstanding group of archi- tects, designers, engineers, construction professionals and financial partners,” said Kevin Codey , founder of Danbro Properties. “Together, we delivered a community that reflects a shared commit - ment to quality, innovation and long-term value for both residents and Livingston as a whole.” Canterly Place was designed by Lessard Design , with in- teriors by Mary Cook Associ- ates . Northwestern Mutual served as a financial partner on the development. MAREJ
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