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EPIRE purchases site in Jersey City

Agosto 14, 2020 | Origine New York Yimby

EPIRE, a New York City-based real estate investment firm, has announced the acquisition of development rights to construct a new mixed-use property in Jersey City. Located at 161 Second Street within the historic Powerhouse Arts District, the through-block building will comprise 100,000 square feet including both residential and retail components.

In 2016, LWDMR Architects revealed renderings of a proposed, 11-story hotel building on the same lot, listed as 144 First Street. It is unclear why those plans were scrapped, and which agencies were responsible for development. Beyond demolition of a preexisting warehouse structure by the previous developer, new construction did not begin, and the lot is currently vacant.

While EPIRE has not revealed the design architects behind this iteration of development, newly released renderings depict a 17-story, masonry-clad building with three setback terraces on the fourth, tenth, and 14th floors. These areas will most likely support private outdoor space for a select number of units. It is unclear whether the development will yield condominiums or rental properties.

According to a brief announcement from EPIRE, the team is currently undertaking a range of due diligence checks on the property.

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New York Yimby
Agosto 14, 2020

EPIRE purchases site in Jersey City

EPIRE, a New York City-based real estate investment firm, has announced the acquisition of development rights to construct a new […]
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