Tag Archives: jackie urgo

Jefferson Condos in the East Village sell out

via Julie Strickland/The Real Deal

From left: Jackie Urgo and 211 East 13th Street

From left: Jackie Urgo and 211 East 13th Street

The East Village’s Jefferson condominiums are 100 percent in contract.

The final deal at the 82-unit property at 211 East 13th Street, developed by a partnership of SK Development, Ironstate Development Company and Charles Blaichman, was signed last week.

Asking prices ranged from $795,000 for a 536-square-foot studio to more than $3.5 million for a 1,233-square-foot, two-bedroom penthouse. Sale prices averaged at $1,670 per square foot.

A team from the Marketing Directors led by Jacqueline Urgo and Martin Brady handled sales at the development, and closings are slated to start in April 2014.

“The product was planned perfectly for the marketplace, including an exterior that fit in contextually with the neighborhood,” Urgo said via email. “While other developers were building family-sized residences, we planned smaller homes for this marketplace, a decision that was validated by the strong velocity of sales.  Our buyers were predominately primary residents, many of whom were already committed to the East Village neighborhood and wanted to move up to this level of luxury and lifestyle.”

The unit mix, price points and relative lack of new development in the East Village also helped drive the sales, which started this past April, SK’s Scott Shnay told The Real Deal.

And while additional condo projects are a possibility for the area, “I don’t know if there are a ton of potential sites,” he said. “There are some projects planned that are rentals. But [our success] shows there’s definitely demand for higher end condo projects.”

While Downtown development is familiar territory for SK and Blaichman, it marked the first such project for New Jersey-based Ironstate. The firm is one of the Garden State’s largest, and has also partnered with Andre Balazs on the Standard East Village.

SK is also busy with the Reade Chambers, a six-story condo building at 87 Chambers Street in Tribeca, slated to launch sales in the first quarter of 2014. Bruce Ehrmann and Andrew Anderson of Douglas Elliman Development Marketing are the exclusive sales agents for the building.

Reade Chambers, located at 71 Reade Street and which has an alternate address at 87 Chambers Street, will launch sales at the start of the New Year, Shnay said. The 17-unit property has a mix of one- to four-bedroom apartments, with prices ranging from $1.4 million to over $7 million.

Soon after, sales will kick off at 10 Bond Street, which SK is developing with Ironstate and the Chetrit Group. The Noho property will have 11 residences up for grabs, including two- and three-bedroom units, plus one townhouse and one penthouse in the mix. Prices will start at around $4 million and going up to over $12 million, Shnay said.

 

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Grand Achievement as JC Earns Place on the Map

Grand achievement as JC earns place on the map

The developers of 225 Grand, a rental building in downtown Jersey City, announced that all of the 348 luxury residences in the building have been leased 10 months after hitting the market.

The announcement was made by Ironstate Development Company, of Hoboken, and KRE Group, of Bridgewater, the two development companies who partnered on 225 Grand. The Marketing Directors, Inc. was the luxury building’s exclusive marketing and leasing agent.

“When you are able to fully lease a building with 348 residences in less than a year, you’re talking about a special building and a tremendously successful program,” said David Barry, president of Ironstate Development.

“Demand remained consistently strong as renters responded to 225 Grand’s dynamic lifestyle offerings including upscale residences, impressive amenities and a location near a variety of mass-transit options.”

The 15-story residential tower was designed by the architectural firm HLW. It has a fitness center, indoor resident-only parking, 24-hour door man, concierge and an outdoor rooftop swimming pool.

“The success of 225 Grand is also a testament to downtown Jersey City’s emergence as one of the state’s most exciting places to live,” said Jonathan Kushner, president of KRE Group. “It’s become a model urban setting at a time when the appeal of ideally positioned to de- liver that sought-after lifestyle.”


Ironstate & KRE Group Announce Lease Up of Jersey City’s “225 Grand”

225 Grand in Jersey City

348 Residences Rented In 10 Months

The developers of 225 Grand, the premium rental building in downtown Jersey City overlooking the Manhattan skyline and Statue of Liberty, announced today that all of the 348 luxury residences in the building have been leased just 10 months after hitting the market.

The announcement was made by Ironstate Development Company, of Hoboken, and KRE Group, of Bridgewater, two prominent development companies who partnered on 225 Grand. The Marketing Directors, Inc. was the luxury building’s exclusive marketing and leasing agent.

“When you are able to fully lease a building with 348 residences in less than a year, you’re talking about a special building and a tremendously successful program,” said David Barry, President of Ironstate Development. “Demand remained consistently strong as renters responded to 225 Grand’s dynamic lifestyle offerings including upscale residences, impressive amenities and a location near a variety of mass-transit options.”

The 15-story landmark residential tower was designed by the renowned architectural firm HLW. Residents enjoy a host of amenities, including a state-of-the-art fitness center, indoor resident-only parking, 24-hour door man, professional concierge and an outdoor rooftop swimming pool. The building is just steps from the Marin Blvd. Light Rail Station, and is within walking distance to PATH stations at Grove Street and Exchange Place and ferry terminals with service to Manhattan.

“The success of 225 Grand is also a testament to downtown Jersey City’s emergence as one of the state’s most exciting places to live,” said Jonathan Kushner, President of KRE Group. “It’s become a model urban setting at a time when the appeal of downtown living continues to be on the rise, and 225 Grand is ideally positioned to deliver that sought-after lifestyle.”

For more information on 225 Grand, call 201-536-0225, or visit www.225Grand.net.


Star Ledger: 225 Grand in Jersey City Completely Leased

The developers of 225 Grand, a rental building in downtown Jersey City overlooking the Manhattan skyline and the Statue of Liberty, recently announced that all of the 348 residences in the building have been leased, 10 months after hitting the market.

The announcement was made by Ironstate Development Co. of Hoboken and KRE Group of Bridgewater, two development companies who partnered on 225 Grand. The Marketing Directors Inc. was the building’s exclusive marketing and leasing agent.

See the full clip: Star Ledger – 225 Grand in Jersey City Completely Leased – 4.8.11


Developers Lease 82% of the Luxury Rental Residences in First Seven Months at Jersey City’s “225 Grand”

225 Grand

The developers of 225 Grand, the premium rental building in downtown Jersey City overlooking the Manhattan skyline and Statue of Liberty, announced today that an impressive 82% of the building’s 348 luxury residences have been leased in the first seven months of availability.

The new 15-story architectural landmark is being developed by Ironstate Development Company of Hoboken and KRE Group of Bridgewater, two prominent development and management companies with strong ties to the Jersey City marketplace. The building’s exclusive marketing and leasing agent is The Marketing Directors, Inc.

“The demand at 225 Grand has been steady since we first introduced the property to the public,” said Ironstate Development President David Barry. “Achieving this level of rental velocity speaks volumes about the building’s well-conceived residences, upscale amenities and a convenient location which all come together in an exceptional lifestyle experience.”

Designed by renowned architectural firm HLW, the landmark residential tower features 348 residences with net-effective monthly rents currently ranging from $1,950 for studios, from $1,845 for one- bedroom homes and from $2,845 for two-bedroom residences.

“The success of 225 Grand also reflects the current strength of the rental market and downtown Jersey City’s position as one of the state’s most dynamic live/work/play destinations,” added Jonathan Kushner, President of KRE Group. “There’s a deep pool of renters in today’s market which appreciates the flexibility and risk-free environment associated with renting, but want living spaces and amenities on par with luxury condominium buildings. 225 Grand provides just that.”

Located in the heart of downtown Jersey City, 225 Grand features well-appointed residences and spectacular views of New York City and the Statue of Liberty. Residents enjoy a host of amenities, including a state-of-the-art fitness center, indoor resident-only parking, 24-hour door man, professional concierge and an outdoor rooftop swimming pool.

The building is just steps from the Marin Blvd. Light Rail Station, and is within walking distance to PATH stations at Grove Street and Exchange Place and ferry terminals with service to Manhattan.

For more information on 225 Grand, call 201-536-0225, or visit www.225Grand.net.

About Ironstate Development
Ironstate Development Company is a privately held real estate development and management company based in Hoboken, New Jersey. The Company engages in the development of large-scale residential and hotel projects in the Northeast United States. The company currently owns and manages over 6000 residential units and currently has approximately $1 billion in the development pipeline. www.ironstate.net

About KRE Group
Headquartered in Bridgewater, NJ, KRE Group is one of the largest privately held diversified real estate companies in New Jersey. It owns and manages more than 5,000,000 square feet of office, warehouse and retail space. It also has substantial ownership in 9,700 apartments, of which 3,400 are managed out of its New Jersey office. The company is currently constructing more than 850 apartments and has several projects in the design and approval process. For more information, visit the company’s website at www.thekregroup.com.


New York Times: Renter Concessions Fading Out

225 Grand


Check out this New York Times article, Renter Concessions Fading Out about the new trend in renting featuring our clients, Ironstate Development, Value Companies and The Marketing Directors.


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