70 Central Lofts LLC recently purchased 70 Central Lofts, a new luxury apartment building at 70 Central Avenue in Jersey City, from Legacy Development Group for $20 million. The transaction was all cash.
The deal was arranged exclusively by The Kislak Company, which marketed the property on behalf of the seller, with Vice President Davis Briones handling the assignment. He also procured the purchaser.
“This landmark sale not only reflects the thriving Jersey City market but also sets the stage for continued growth and greater opportunity in the area,” Briones said. “At $625,000 per unit, it is among the highest prices per unit paid for a new construction building in Jersey City.”
The sale price represents the highest price per unit achieved for a 10-plus unit multifamily property in Jersey City since 2021, according to data provided by real estate information provider CoStar.
The five-story property with 31 apartments was completed in 2024. It has a parking garage for 32 cars and one retail unit with 1,696 square feet of space. The building includes 7,000 square feet of amenity space for the residents’ use. The apartments feature high ceilings; kitchens with modern cabinets, quartz countertops and stainless steel appliances; full-size washers and dryers; floor to ceiling windows; additional insulation for sound control; and balconies in select units.
The property is near the border of Journal Square and The Heights and sandwiched between Beacon Avenue and Hopkins Avenue. 70 Central Lofts is five minutes from the Journal Square PATH Station and Hudson-Bergen Light Rail.
