JLL closes $31.9M sale of 72-unit Solaris Lofts located in Jersey City’s Bergen-Lafayette neighborhood

JLL Capital Markets on Wednesday said it brokered the sale of Solaris Lofts in Jersey City to Beachwold Residential for $31.9 million.

The JLL Capital Markets Investment Advisory team representing the seller, PERE Holdings, was led by Michael Oliver, Jose Cruz, Steve Simonelli, Kevin O’Hearn and Josh Stein.

The five-story building, located at 65 Maple St., is a 72-unit, boutique multihousing community located within the Bergen-Lafayette neighborhood. It was completed in 2019 by PERE and features studio, one-, two- and three-bedroom units with 9-foot ceilings, casement loft windows, white oak flooring, in-unit washers and dryers, exposed concrete walls and ceilings, solid birch kitchen cabinets and stainless-steel appliances.

Community amenities include electric car charging stations, a fleet of deluxe commuter bicycles, purified water bottle filling station, a state-of-the-art fitness center, a yoga room with daily classes, on-site dog park and dog run, a resident lounge and coworking areas, on-site gourmet grocery and deli, roof deck with views of Manhattan skyline and on-site parking.

The property’s location allows convenient access to the Hudson Waterfront, Manhattan and the greater New York area. Mass transit can be accessed via the Hudson-Bergen Light Rail at Liberty State Park station, which is one block from the property. Additionally, Interstate 78 is less than one-half mile away and provides vehicular connectivity to Interstate 95 (New Jersey Turnpike), the Hudson Waterfront and the Lincoln and Holland tunnels within five minutes. In addition to Solaris Lofts’ impressive regional accessibility, the property offers walkability to local amenities such as Liberty State Park, the Liberty Science Center and multiple restaurants and bars within a five-block radius.

“Jersey City and the Hudson Waterfront have seen an incredible bounce back since the heart of COVID, with increased occupancies, limited concessions and strong rent growth. Solaris Lofts is a beautiful boutique building in a burgeoning neighborhood of Jersey City. The Beachwold team will be able to leverage off their existing portfolio in the area and see continued success with this new investment,” Oliver stated.