Sold

44 COTTAGE ST

JC, Journal Square NJ, 07306

$6,200,000


Sold

Land

Welcome to 42, 44, 44A and 46 Cottage Street properties, an assemblage that took 7 years to combine, consisting of ~9,052 square feet of land, in the 2060 Redevelopment Zone 4 of Journal Square, the highest redeveloping area of Jersey City, Hudson County, New Jersey. These four properties are also strategically located in an Opportunity Zone. The land currently hosts one to two family housing, three of the four properties are currently rented and will be delivered vacant at closing. The houses do not posses any historic significance and can be fully demolished to build new contemporary building. As per the site analysis study conducted by Anthony C. Vandermark, the Principal Architect at MVMK Architecture & Design, the site is zoned for 6 stories / 64' - 00", As of Right Residential Project, 46,125 SQFT Constructible and 38,438 SQFT Sellable / Rentable. 50-54 Units with Studios. Site Area qualifies for Zone 4 Office Bonus of 2 Additional floor. No parking being provided which is permitted. *Optional 9th floor could be approved at 101'-08" in height with 10% affordable provided. 9 Story Structure will be classified as a High-rise with Related Code Requirements." Site is currently surrounded by tons of Restaurants, Cafe, Supermarkets, Banks, Hospitals and Corporate Offices. Its conveniently located steps from Homestead Place, a new walkway extension of Homestead Place which has lead to 7, 20 - 27 story high-rise buildings with an influx of over 2000 new construction units. The gentrifying neighborhood is evident by the new construction residential and mixed use projects surrounding the site. The upcoming Homestead Place Pedestrian Plaza will house many new cafe, restaurants, office and retail spaces surrounding the area, a street referred most commonly as being similar to Stone Street in Manhattan's Financial District. A quick 5-minute walk from the site provides access to the Journal Square Path Train, # 1 transportation hub in Jersey City, and arrive New York City within sixteen minutes via the Path train. In addition, the site provides quick access to Newark Airport, JFK Airport and LaGuardia Airport via major roadways such as Route 1, Route 9, and I-78. Two One Two, Eight Four Four, Nine Three Nine Three, for all questions or appointments.

230003957

MLS ID

March 11, 2023

Listed

October 1, 2024

Updated

Map

44 COTTAGE ST
JC, Journal Square NJ, 07306

Other Property Details

Area Name

JC, Journal Square


Days on Market

76


Garage

No


View

No


County

Hudson


Pool

No

Courtesy of EXP REALTY LLC with MINNI CHALANA,
Listing Contact: 866-201-6210 

The IDX display contains information sourced from the Realty Multiple Listing System, Inc. as of 10/1/2024. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.

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Data last updated on 10/1/2024 at 8:49 PM UTC

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