LeFrak sells Jersey City office property for $372M

Harbor Group International has bought a Class A office property in Jersey City from LeFrak Organization for $372 million, the Commercial Observer reported. The 866,706-square-foot building on Washington Boulevard known as Newport Office Centre IV houses tenants including J.P. Morgan Chase and Insurance Services Office. The waterfront property has a health club, a day care center, a restaurant and a helipad. Morgan Stanley provided $251 million in acquisition financing, according to the outlet. [Commercial Observer]