Real Estate New Jersey | Hornrock touts strong velocity after leasing 80 percent of 221-unit Hackensack rental building

By Joshua Burd

Hornrock Properties has leased more than three-quarters of a new 221-unit luxury apartment building in downtown Hackensack, the developer said Monday.

Known as Ivy and Green, the property at 1 Park Ave. sits at the gateway to the central business district and has more than 35,000 square feet of amenities and social spaces. Those perks have helped fuel interest at the collection of studio, one-bedroom and two-bedroom homes, Hornrock said, allowing it to reach 80 percent leased after hitting the market in late March.

Monthly rents start in the $2,500s, with incentives that include up to two months free.

“Ivy and Green has raised the bar for luxury rental living in downtown Hackensack by offering a top-level building with oversized homes and amenities and services second to none in this growing market,” said David Hornblass, a principal of Hornrock Properties. “The building immediately resonated with the public. Recording this level of leasing velocity in such short order is an indicator of how quickly Ivy and Green has been embraced by renters.”