LeFrak earns approval for 387-unit building in Jersey City

30 Park Lane North will sit on waterfront, rise 362 feet

Tri-State /
Dec.December 16, 2021 06:15 PM

LeFrak CEO Richard LeFrak and a rendering of 30 Park Lane North in Jersey City (Minno Wasko, iStock, Getty Images)

As the LeFrak Organization faces resistance on one Jersey City project, it appears to be full steam ahead for another one just down the road.

The city’s planning board unanimously granted approval for the developer’s project at 30 Park Lane North, located within Newport’s Northeast Quadrant, Jersey Digs reported. The 387-unit building along the waterfront will stand 33 stories, reaching nearly 362 feet into the sky.

Apartments will range from studios to four-bedroom units. According to Jersey Digs, there will be no income-restricted units. The city is working on an inclusionary zoning ordinance. Such policies either incentivize or require a percentage of units in residential projects to be affordable.

The LeFrak development will include a 379-space parking garage, in addition to parking for 200 bicycles. Amenities will include a terrace with outdoor fitness equipment, fire pits, a grilling area and ping-pong tables.

There will also be ground-floor retail space. One 2,700-square-foot space will be a restaurant, while a 4,700-square-foot space will be designated for retail.

The building proposal adhered to the Newport Redevelopment Plan, meaning LeFrak didn’t require any variances. According to Jersey Digs, there is no groundbreaking date or timeline for the project.

Manhattan-based LeFrak is a frequent developer in Jersey City. The company recently finished The Beach, a luxury waterfront residential project east of its latest site. But the developer has also run into controversy in the area.

The organization’s plan to build 1,998 apartments on the Sixth Street Pier resulted in a nearby condominium board starting a petition asking local officials and the City Council to alter the five-tower project. Residents wanted the ambitious project scaled back.

Earlier this year, LeFrak bought the Marina Del Rey apartments in Miami Beach’s Normandy Isle for $24.5 million. The 108-unit complex was sold by the Finvarb family.

[Jersey Digs] — Holden Walter-Warner





    Related Articles

    arrow_forward_ios
    Lever House set for $100M redevelopment, restoration
    Lever House set for $100M redevelopment, restoration
    Lever House set for $100M redevelopment, restoration
    BFC Partners managing principal Donald Capoccia and renderings of 1607 Surf Avenue on Coney Island (BFCNYC)
    BFC breaks ground on next phase of Coney Island affordable project
    BFC breaks ground on next phase of Coney Island affordable project
    John Arrillaga (Raymond Purpur of the Stanford Athletic Department)
    John Arrillaga, pioneering Silicon Valley developer, dead at 84
    John Arrillaga, pioneering Silicon Valley developer, dead at 84
    Steven Pozycki, chief executive officer, SJP Properties, in front of 111 River Street in Hoboken, NJ (SJP Properties, LoopNet, iStock)
    SJP, David Werner buy waterfront Hoboken office, retail property
    SJP, David Werner buy waterfront Hoboken office, retail property
    Southampton Town supervisor Jay Schneiderman (jayschneiderman.com, Google Maps)
    Southampton Town considers buying 40 acres
    Southampton Town considers buying 40 acres
    From left: Don Mullen, chief executive officer, Pretium Partners; Kelli Lawrence, chief executive officer, Onyx+East (Pretium Partners, Onyx+East, iStock)
    Pretium to launch $600M JV for build-to-rent development
    Pretium to launch $600M JV for build-to-rent development
    Kamson founder Richard Kurtz and 1 Frick Drive (Sotheby's International Realty)
    “We’re done”: Seller comes to grips with NJ mansion mistake
    “We’re done”: Seller comes to grips with NJ mansion mistake
    Sergey Ryback, founder, principal, Ryback Development (Google Maps, Ryback Development)
    Bad vibes threaten Rybak’s Upper East Side project
    Bad vibes threaten Rybak’s Upper East Side project
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...