CBRE announced it has been appointed the exclusive sales agent for 413 Summit Avenue, a recently developed 148-unit luxury residential high-rise located in the heart of the Journal Square Central Business District in Jersey City.
In addition to the high-end apartments, the property also boasts approximately 4,500 square feet of commercial space, which is 100% leased to a modern racquet sports club that has additional locations in Jersey City and Long Island City, N.Y.
The CBRE team, led by Fahri Ozturk, Richard Gatto, and Zach McHale, is spearheading the marketing campaign on behalf of the seller.
“Built in 2023, this Class A property represents a new benchmark in upscale residential living, offering a diverse mix of studios, one-, two- and three-bedroom apartments and a resort-style amenity package designed to attract and retain quality tenants,” said Ozturk. “The developer and their team have done an exceptional job delivering a product that caters to today’s modern renter.”
The luxury high-rise offers a wealth of amenities including a rooftop terrace with grills, a fireplace and stunning city views; a resident lounge for co-working and social events; a state-of-the-art fitness center; a dedicated yoga room; bike storage; package-receiving services; storage space; a 24/7 virtual doorman system; and on-site management.
Additionally, the property is ideally situated a short distance from major employers, including Goldman Sachs and JPMorgan Chase, and over 12,000 financial services professionals work in nearby offices.
“Journal Square has emerged as one of the most dynamic neighborhoods in the New York metropolitan area, with over $2 billion in current real estate development,” said Gatto. “The property benefits from immediate proximity to the Journal Square PATH station, providing direct access to Manhattan in 12 minutes while at a 20-40% rental discount to competing assets in the immediate area.”
