Real Estate New Jersey: KRE, National eye final phase of Journal Squared after lease-up of 704-unit second tower

Kushner Real Estate Group and National Real Estate Advisors LLC have leased up the second of three towers at Journal Squared in Jersey City, in a project that will ultimately include 1,838 units and 36,000 square feet of retail and restaurant space. — Courtesy: Qualls Benson

A development team has leased up a new 704-unit luxury apartment tower in Jersey City, paving the way for the final phase of a landmark project in the historic Journal Square neighborhood.

The partners, Kushner Real Estate Group and a client of National Real Estate Advisors LLC, announced the milestone Monday less than five months after the launch of leasing at Journal Squared phase two. Renters absorbed an average of 140 units per month at the 68-story structure, the largest of what will be three towers at Summit and Pavonia avenues, thanks in part to its location atop the busy Journal Square PATH station.

The joint venture has completed the lease-up alongside The Marketing Directors.

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