Brian Moynihan

In its ongoing effort to curb costs by selling real estate, Bank of America is now marketing a 12-building, 1.7 million-square-foot office campus in New Jersey that could break the record for the state’s biggest office sale. Businessweek reported that the property, which is located in Hopewell Township near the Pennsylvania border, could get $400 million from the sale.

A $400 million deal would crush the previous record set in October when Jersey City’s Newport tower traded for $377.5 million. Bank of America would lease back the Hopewell Township campus. [more]

Uniqlo's Fifth Avenue storefront

At a time when American retail chains with shopping mall presences, like Abercrombie & Fitch, Coldwater Creek and Talbot’s, are cutting back, foreign retailers are working to increase their American presence. The New York Times reported that this is especially true with Japanese basics retailer Uniqlo, which recently signed a lease at the Garden State Plaza mall in Paramus, N.J., in a new effort to grow at malls.  [more]

From left: Bayfront area and a rendering of the future development

Jersey City has taken a crucial step towards the redevelopment of 100 acres of contaminated land on its western edge, according to the Wall Street Journal. NJ Transit began an environmental review of the plan last week, a precursor to extending the Light Rail to connect the region’s public transit to the area, known as Bayfront. An estimated $213 million extension of the Light Rail could help encourage developers to move forward with a plan to build 8,100 residential units, 1 million square feet of office space and 20 acres of park on the waterfront site. [more]

From left: Joe and Melissa Gorga, the exterior and the interior of their home in Montville, N.J.

Melissa Gorga, star of Bravo’s “The Real Housewives of New Jersey,” and her husband, builder Joe Gorga, have put their 13,500-square-foot Montville, N.J. home back on the market for $3.8 million, a $300,000 discount from when they last listed it. [more]

Rendering of the Triple Five Meadowlands project, set to be completed in 2013

A New York appeals court has ruled in favor of the former developer of the Meadowlands Xanadu shopping and entertainment project in East Rutherford, N.J., overturning a lower court ruling and giving the former developer the right to recover $600 million in damages against a Lehman Brothers affiliate which cut off the promised construction financing for the project, an attorney for the developer said today. [more]

From left: president of Naroff Economic Advisors, Joel Naroff, and a Jersey Shore beach house

Housing prices at the Jersey Shore are finally bottoming out, according to brokers and economists, cited by The New York Times. A recent surge of activity has sales up 15 percent over the first quarter of last year. Brokerages like Avalon Real Estate and Childers Sotheby’s International Realty are showing their strongest numbers since the recession. [more]

From left: Harrison LeFrak, former New York Met Mookie Wilson, Gov. Chris Christie and Richard Lefrak and the ribbon cutting ceremony in front of the new Jersey City playground

New Jersey Governor Chris Christie and other state and Jersey City officials this afternoon joined the Lefrak Organization for the opening of Newport Green, a 4.25-acre park at the northeastern end of its massive waterfront mixed-use complex called Newport. [more]

John Zuccotti and Duke Farms

Brookfield Chairman John Zuccotti, whose namesake park in Lower Manhattan brought privately owned public spaces to the national consciousness through the Occupy Wall Street protests, will soon oversee one of the largest such spaces in the country. The Wall Street Journal reported that the 2,740-acre Duke Farms in Hillsborough, N.J. will open to the public May 19. [more]

From left: 200 West Street and 30 Hudson Street

Goldman Sachs is reconfiguring its real estate footprint and, according to the New York Post, that could have a major impact on its 42-story Jersey City property that remains the tallest in the state. The firm plans to move some of its real estate, technology and administrative staff to its new headquarters at 200 West Street in Battery Park City from the 1.5 million-square-foot office it developed in 2004 at 30 Hudson Street in Jersey City. [more]

Wayne Hasenbalg and the American Dream project

New Jersey’s American Dream, formerly known as Xanadu, has taken a big step forward just two weeks after the U.S. Environmental Protection Agency reiterated its opposition to the project. According to the Wall Street Journal, the New Jersey Sports and Exposition Authority, which owns the project’s land, submitted the environmental review document the EPA was requesting, clearing the way for permits needed to resume construction. [more]