136 Greene Street Update 08/07/23

Jersey City Development Site Trades for $58M

An unbuilt parcel of land, located at 136 Greene Street in Jersey City, NJ, has just been sold for $58 million. The lot was purchased by Related Companies from the previous owner, Veris Residential, in a deal brokered by Newmark, Cushman & Wakefield, and CBRE.

Spanning 58,379 square feet (or roughly 1.34 acres), the property is bound by Greene Street, Pearl Street, Hudson Street, and Columbus Drive. The site currently consists of a paved parking lot, but in the future, Related plans to develop an 800,000-square-foot, luxury multifamily building, on the property. If the project proceeds, this would become Related's first-ever rental development in Jersey City.

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