6B — October 27 - November 9, 2017 — Owners, Developers & Managers — M id A tlantic

Real Estate Journal


O wners , D evelopers & M anagers

ACKENSACK, NJ — Hekemian & Co. an- nounced on October The Current on River will be a 6-story complex on River St. Hekemian & Company, Inc. breaks ground on 254-unit apartment community in Hackensack, NJ H

Manhattan’s prices, or even Hoboken’s prices,” Hekemian said. “As more people move out of Hoboken and Jersey City, cities like Hackensack are well-positioned to become the next ‘it’ place, complete with luxury housing, things to do, and places to eat, all within a bus ride or train from Manhattan.” The Current on River is a key part of the ongoing redevelopment of downtown Hackensack. The city is in the midst of a $1 billion revital- ization plan to bring jobs and commerce to its downtown Main St. area. The ambitious plan includes the planned con- struction of new housing, com- mercial space, retail stores, restaurants and a performing arts center. Hekemian said that The Current on River will be a major contribution to the city’s redevelopment plans and a key moment marking the city’s transformation into one of New Jersey’s most in-demand places to live. “Together with the Main Street Business Alliance, we are committed to the rebirth of this city,” Hekemian said. “My family has been a part of Hackensack for more than 80 years, and we are proud to be a part of a new chapter in the city’s Downtown.” n Greystone Real Estate Advisors expands in Mid- Atlantic New y ork , N Y — Greystone Real Estate Ad- visors announced Payton Banks has joined as a manag- ing director for multifamily sales advisory efforts in the Mid-Atlantic. Banks brings over 15 years of multifamily in- vestment management experi- ence to Greystone, and reports to Jim McDevitt , president, Greystone Real Estate Advi- sors’ multifamily group. Prior to joining Greystone, Banks was VP of Investments at Marcus & Millichap where he built a highly specialized team covering the Mid-Atlan- tic region including Virginia, Maryland and the District of Columbia. His team, focused on investment sales, asset reposi- tioning, development and port- folio valuations, was involved in over $1 billion in multifamily investment transactions. n

downtown,” said Bryan Hek- emian , principal of Hekemian & Co. and a founding member of the city’s Main Street Busi- ness Alliance. “The Current on River will be a luxury apart- ment community that is in keeping with the vision of the city.” The Current on River will be a 6-story complex on River St., featuring 1 and 2-bedroom units. “Hackensack is the natural next destination for millen- nials and young professionals looking for a beautiful place to call home without paying

18th the beginning of a new era in the revitalization of the city of Hackensack with the groundbreaking of The Current on River, a 254-unit luxury apartment complex on River St. in the heart of the city. Hackensack Mayor John P. Labrosse Jr. was present for the groundbreaking, along with other government offi- cials, representatives from the city’s Main Street Business Alliance and representatives fromHekemian &Co., the New

The Current on River rendering

Jersey commercial real estate owner, developer and manager of this project.

“This groundbreaking is another great step in the re- vitalization of Hackensack’s

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