August 1, 2014
BlueGate Sells Jersey City Apartment Building for $79 Million
BlueGate Partners is pleased to announce the sale of Warren at Bay, a premier Jersey City class-A multifamily asset, from BNE Real Estate to GID Investment Partners for $79 million.
Warren at York is a brand new 139-unit Class A multifamily property located in Jersey City, NJ, one of the nation’s most dynamic residential markets. The 12-story property consists of one to three bedroom luxury apartment homes along with parking and ground floor retail components. Completed in June 2014, the Warren at York is fully-amenitized and features all of the luxury offerings and finishes of newly delivered Manhattan properties while also being a short walk from two PATH rapid-transit stations. Both the stations at exchange Place and grove Pointe are capable of shuttling residents to downtown and Midtown Manhattan, respectively. This allows residents the ability to reach certain destinations in New York City faster than some of their Manhattan counterparts.
BlueGate is a boutique real estate investment banking firm with offices in New York and Palm Beach, and offers services in the areas of investment sales, portfolio and property financing, and debt and equity capital raising for real estate projects.