GN Management, a Jersey City-based real estate firm specializing in luxury residential and mixed-use properties, has bought, through affiliate and intercompany transfers, full ownership interest in the city’s Harborside 9 development site, one of Jersey City’s most anticipated mixed-use projects. Financial terms were not disclosed.
The acquisition included a transfer to GN Management of the remaining Harborside 9 ownership interest held by Panepinto Properties, a major real estate developer behind much of Jersey City’s transformation. This sets the stage for site development, which will yield a 57-story tower, further elevating the city’s waterfront skyline.
Harborside 9 is approved for 579 residential units, 14,800 square feet of retail and a 555-space parking garage. The tower will also deliver a 15% affordable housing component, creating 87 affordable units in one of the region’s most supply-constrained markets.
GN Management, which has experience delivering residential and mixed-use projects across the Tri-State region, intends to begin work on Harborside 9 following minor site-plan refinements, with the goal of starting development in 2027.
“Harborside 9 is a rare opportunity to advance meaningful housing supply on Jersey City’s waterfront, and we’re proud to take this project forward,” said Arvinder Singh Minhas, president of GN Management. “We’re grateful to Panepinto Properties for their collaboration and to Jim Pompa for helping bring the right partners together at the right time.”
The sale follows broader onsite progress – including Panepinto Properties’ acquisition of development rights from Veris Residential Inc., for $75 million, and the advancement of Harborside’s Master Plan, which calls for more than 1,200 new residential units across dual sites encompassing 4.2 total acres (both Harborside 8 and 9). While Panepinto continues to lead development of Harborside 8 (a future 65-story mixed-use tower) – where construction is now underway – the transfer of development rights and ownership for Harborside 9 ensures both phases can move forward on essentially similar timeframes.
The deal was brokered by Jim Pompa of Coldwell Banker, who aligned the parties and helped ensure progress of the broader development timeline. Pompa is a Jersey City specialist who has closed several major development site transactions in the city over the past decade.
“This deal required patience, creativity and trust, and ultimately brought together highly respected groups who believe in the future of Jersey City,” said Pompa. “I’ve spent more than a decade focused on this market, and I’m committed to helping advance projects that strengthen neighborhoods and create long-term value. GN Management is exactly the kind of partner you want stepping into a site like this.”
This transaction arrives at a time when regional market trends, including intensifying demand from renters priced out of New York City, are reinforcing Jersey City’s position as one of the most active residential development markets on the East Coast.
“Jersey City remains one of the most resilient and opportunity-rich markets in the region,” said Onkar Singh, CEO of GN Management. “We are proud to invest here, and are confident Harborside 9 will reflect the community’s energy, diversity and momentum.”
Bravo Capital, a leading privately held financing platform, supported GN Management’s acquisition of Harborside 9 with the help of finance broker Vivek Jagadish of Blue Mountain Capital. The law firm of Castano Quigley Cherami LLC represented GN in both the acquisition and financing transactions.
