Open House: Comeback for Harrison, N.J.

Picture2The Wall Street Journal‘s Melanie Lefkowitz reports on the development boom in Harrison, N.J. The report features our clients Ironstate Development Company and BNE Real Estate Group.

The town of Harrison, N.J., has long offered its residents a friendly, diverse and safe community; easy access to Newark, Jersey City and Manhattan; and relatively affordable wood-frame houses on quiet streets.

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The 138-room Element Harrison-Newark, a Starwood hotel, opened in August. A 141-unit luxury rental complex, the Water’s Edge at Harrison, began offering leases last week for apartments that will be available starting in October.

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Rentals at Harrison Station, which currently has 275 units, cost about $30 a square foot, with a 700-square-foot, one-bedroom apartment renting for around $1,800 a month, Mr. Barry says. Apartments in the Water’s Edge, on Dey Street near the Passaic River, are around $1,700 a month for a one-bedroom and $2,200 for a two-bedroom apartment, according to the developer, BNE Real Estate Group.

FULL ARTICLE

 

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