The 68-story building, the tallest of the three-phase project, has leased over 50% of its 704 apartments in the nine weeks since leasing began, the developers said. Occupancy is now underway.
“This development is the crown jewel of our urban portfolio, to date,” KRE President Jonathan Kushner said in a prepared statement. “You can see it from the New Jersey Turnpike from miles away and from New York City as you gaze west. KRE is proud of this project and being part of the growth of Jersey City.”
Journal Squared Tower 2’s units include studios and microstudios up through three-bedroom layouts, as well as one-bedroom units with dens. Residences are priced from $1,960 per month.
“Building upon the success of phase one of this project, we are excited to provide this dynamic city the next phase in luxury living,” National Real Estate Advisors CEO and President Jeffrey Kanne said in a statement. “It is always our goal to enhance any market we enter into, and we feel certain Journal Squared is on the cutting edge of modern city living and will be an excellent addition to the Jersey City community.”
When completed, Journal Squared will total 1,838 rental residences and 36,000 square feet of retail and restaurant space across three high-rise buildings. The property is located at 537 Summit Ave.