The Real Deal New York

Penthouse at LeFrak’s Ellipse becomes Jersey City’s priciest rental listing

Four-bedroom unit listed for $10,995
By Chava Gourarie | November 30, 2017 03:20PM

Penthouse at LeFrak’s Ellipse in Jersey City

The most expensive rental listing in Jersey City’s history just hit the market at $10,995 a month, The Real Deal has learned.

The unit is the largest of five penthouses at the Ellipse, LeFrak Organization’s 41-story elliptical tower in the the Newport neighborhood. The full-floor apartment spans 2,300 square feet and comes with four bedrooms, four bathrooms and a terrace with Manhattan views.

The listing has increased significantly in its short lifetime. When LeFrak launched leasing for the 381-unit building at 25 Park Lane South in April, prices started at $2,600 for a studio and peaked at $8,211 for the four-bedroom penthouses, according to a New York Times report.

Amenities at the building include an outdoor pool, a co-working space, and a deck overlooking the Hudson River. Concessions include two months of free rent for a 24-month lease.

The luxury rental is among a slew of pricy developments coming to Jersey City, including the 377-unit Soho Lofts which debuted in October, and the 15-story Lenox, which launched leasing for its 255 units last month, beginning at $2,365 for a studio.