From the January issue: For developers, New Jersey’s Gold Coast — that swath of real estate hugging the Hudson River from Englewood Cliffs to Jersey City — presents a tale of two markets. On the one hand, the rental market has rebounded, recovering to the point where brand-new rental projects are now being built and quickly leased.
“The environment is conducive to new development,” said Michael Barry, president of Hoboken-based developer Ironstate Holdings. Lenders are backing “well-heeled, well-positioned, stable” projects, he said. [more]