Jersey City multifamily binge: Two more sites trade for $21M

Two more residential projects are coming to Jersey City as the city’s hot rental market continues to draw New York developers across the Hudson.

Dan Hollander’s DHA Capital paid $6.5 million for a 31,000-square-foot development site at 70 Mallory Avenue on the city’s West Side, where it plans to build a six-story, 136-unit building with 2,000 square feet of ground-floor retail and 53 parking spots, according to a permit application. According to a B6 Real Estate Advisors team of Yanni Marmarou, Jack Drillock and Dre Nestico, which brokered both deals, the buyers were an investment group led by Shimon Schwartz.

A $36M Midtown listing tests Fifth Avenue’s comeback

As Fifth Avenue battles back from the pandemic, a new listing in the heart of the shopping corridor will test the strength of its recovery.

The leasehold for 587 Fifth Avenue, a 10-story, mixed-use building between 47th and 48th Streets, is hitting the market asking $36 million. Steve Kassin’s Infinity Collective holds the ground lease, public records show. Zachary Redding and Dylan Kane of B6 Real Estate Advisors have the listing.


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