KRE Group breaks ground on Phase II of luxury development in Bayonne

KRE Group, a real estate investment and management company based in Bridgewater, announced on Monday the groundbreaking for the second phase of Bay 151, a residential development in Bayonne.

Following Phase I, which is now more than 85% occupied, Phase II will construct a four-story building with 213 rental properties at 151 Centre St. When complete, the three-phase project will have a total of 625 units and 10,000 square feet of retail space. Phase I was comprised of a four-story building with 200 studio to three-bedroom rental homes and 15,000 square feet of indoor and outdoor amenities.

“We’re very excited to commence construction of the second phase of Bay 151, which has quickly proven to be one of Bayonne’s most in-demand residential developments,” Jonathan Kushner, president of KRE Group, said. “Since launching leasing efforts in May, Bay 151 has welcomed a number of new residents, many of whom hail from New York City, in search of more space, robust amenities and access to public transportation — all at an attractive price point.”

The building’s amenities include a modern lobby with package concierge, a fitness center, covered parking, a carwash station and a dog-wash room, and an outdoor deck with dining areas, grilling stations and a resort-style pool. Residents will have access to a library, co-working space, business center, workstations, Wi-Fi lounges, billiards room, demonstration kitchen, media room and a children’s play room. There is also a complementary shuttle to the Grove Street PATH station. All amenities are currently open to residents.

The property is within easy access to Interstate 78 and the New Jersey Turnpike’s Exit 14A.