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 05:28 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
    Rubenstein Partners' David Rubenstein and Warren Corporate Center (Rubenstein Partners, iStock)
    Tri-state deal roundup: King Kullen loses ground, former Modell’s replacements
    Tri-state deal roundup: King Kullen loses ground, former Modell’s replacements
    NRIA Fund president Rey Grabato (LinkedIn, iStock)
    Bankrupt NJ developer accused of $630M fraud
    Bankrupt NJ developer accused of $630M fraud
    Friends of Bay Street Chairman Adam Potter and rendering of new affordable housing and commercial space (LinkedIn, BHC Architects, Illustration by Kevin Cifuentes for The Real Deal)
    Affordable housing project proposed for Sag Harbor
    Affordable housing project proposed for Sag Harbor
    Jackson Township Mayor Michael Reina (Jackson Township, iStock)
    New Jersey town settles discrimination suit
    New Jersey town settles discrimination suit
    Jersey City mayor Steven Fulop, Kushner Companies' Nicole Kushner Meyer and render of One Journal Square (Getty Images, Kushner Companies)
    “Charlie, we did it”: Kushner breaks ground on long-delayed towers
    “Charlie, we did it”: Kushner breaks ground on long-delayed towers
    City of Bayonne's Sharon Ashe-Nadrowski and Boraie's Omar Boraie with Aerial rendering of Peninsula at Bayonne Harbor (City of Bayonne, Boraie Development, NK Architects, iStock)
    Bungled in Bayonne: 15 years later, Peninsula dev lurches forward
    Bungled in Bayonne: 15 years later, Peninsula dev lurches forward
    Rey Grabato along with several NRIA projects (LinkedIn/Rey Grabato, NRIA, iStock/Photo Illustration by Steven Dilakian for The Real Deal)
    Embattled NJ developer files for bankruptcy
    Embattled NJ developer files for bankruptcy
    Netflix co-founder Reed Hastings (Getty Images, iStock)
    Netflix bids on 289-acre land in New Jersey
    Netflix bids on 289-acre land in New Jersey
    arrow_forward_ios

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

    Loading...