The Real Deal Tristate

Two of New Jersey’s $1B-plus real estate projects announce key updates

June 11, 2019 06:08PM

A pair of projects recently ranked by The Real Deal as among the largest underway in the Garden State made important announcements within the past week. China Overseas America, which is behind the $1 billion 99 Hudson tower, which at 79 stories is the tallest building in New Jersey, released renderings and updated pricing figures for its development in downtown Jersey City, RE-NJ reported. The developer said the project, designed by Perkins Eastman, will include 65,000 square feet of indoor and outdoor amenities, a 3,000-square-foot swimming pool and a 3,800-square-foot fitness center. Pricing for units at 99 Hudson, which range from studios to three-bedrooms, have been adjusted to start at $552,000, up from the $400,000 in unit pricing at the development when it was topped off last September. About 30 miles south of 99 Hudson, North American Properties’ $2.5 billion development in Sayreville also took a step forward last week. The Ohio-based developer hired a new executive director in Mark Fetah to oversee the 5 million-square-foot Riverton development, which it hopes to break ground upon this year. PGIM Real Estate partnered with NAP in 2017 when the latter acquired the 418-acre site from O’Neill Properties. According to NJBIZ, the site was previously owned by National Lead Paint, which vacated the property in the 1980s. NAP said Riverton will be similar to National Harbor and Wharf, a mixed-used project in Washington, D.C. [RE-NJ]