IPRG New Jersey said Dec. 2 that it sold a fully approved 365-unit development site at 212–230 Culver Ave. in Jersey City’s West Side neighborhood.
The property traded for $14.1 million, following an exclusive marketing campaign led by Yanni Marmarou, partner at IPRG, who represented the seller and procured the buyer, TAY Investments.
The 1.3-acre site is fully approved for an eight-story multifamily development featuring 365 residential units, 1,500 square feet of ground-floor retail, and 184 indoor garage parking spaces. The transaction represents the largest development acquisition to date for TAY Investments.
“This was a standout opportunity in one of Jersey City’s fastest-growing corridors, and we were pleased to deliver an exceptional solution for both of our clients,” said Marmarou. “Demand for well-positioned development sites in the West Side continues to grow, driven by over a billion dollars in planned infrastructure, education and innovation-district investment.”
Located in the rapidly transforming Route 440 Redevelopment Zone, the property is near the 100-acre Bayfront Redevelopment Project along with the West Side Avenue light-rail extension.
The future Culver Avenue development will introduce a full suite of luxury amenities known as “The Sanctuary,” along with smart-technology integrations and a modern mix of studio, one-bedroom and two-bedroom apartments. The site, blocks away from the West Side Ave. Hudson-Bergen Light Rail Station, offers direct access to Downtown Jersey City and Manhattan. Construction is anticipated to begin in the second quarter of 2026, with delivery expected by summer 2028.
“TAY Investments’ vision for this site aligns with the high-quality development activity reshaping the West Side,” Marmarou added. “We’re excited to have played a key role in facilitating one of the most significant transactions in Jersey City during the 2024-25 cycle.”
“The acquisition of 212 Culver Ave. represents a major step forward for TAY Investments as we continue expanding our footprint in the city and we’re incredibly excited about it,” said Yuval Shram, founder and CEO of TAY Investments. “This investment reinforces our long-term belief in Jersey City’s tremendous growth potential, specifically in the West Side neighborhood.”
TAY Investments has been active in Jersey City since 2013 and operates six projects in the city, including two under development, totaling over 800 residential units and 22,000 square feet of ground floor commercial space.
