Jersey City penthouse sells for record $5.7M (updated)

Jessica Perry//February 2, 2022//

Jersey City penthouse sells for record $5.7M (updated)

Jessica Perry//February 2, 2022//

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Strategic Capital’s recent Jersey City transaction set a record for the highest priced condo sale on the Gold Coast, with the new benchmark coming in at more than $1 million over the previous record set back in the fall.

On Feb. 1, the real estate investment and development platform of China Construction America announced the closing of a four-bedroom penthouse at 75 Park Lane in the city’s Newport neighborhood.

A terrace at 75 Park Lane in Jersey City.
A terrace at 75 Park Lane in Jersey City. – BUSINESSWIRE

The residence features four-and-a-half baths and an 800-square-foot terrace.

The unnamed buyer was represented by Puja Yagnik of Coldwell Banker Realty in Hoboken.

According to that firm, Yagnik first showed her clients the unit in April 2021. The space was marketed briefly in July, but taken off when the deal was finalized.

“It’s been a long journey but worth it,” Yagnik said. “Penthouse 3801 is a very unique condominium with almost 4,000 square-feet of indoor space and another 800-square-foot terrace facing the Hudson River.

“New construction, world-class amenities, space, and New York City and Hudson River views are the main selling points,” she added. “Buyers are looking to stay in Jersey City long-term due to its vicinity to NYC and are looking for larger units due to the pandemic work-from-home requirements.”

In October, the state’s tallest residential tower — 99 Hudson — recorded a $4.4 million sale for its largest penthouse, setting the previous record.

The 37-story property at 75 Park Lane is part of the Park and Shore development, which features two residential buildings and a total of 429 condominiums.

Amenities at the Woods Bagot-designed property include a heated indoor swimming pool; wine-tasting lounge and private dining room; putting green; children’s play area; coworking lounge; a Sky Lounge with chef’s table, terrace and views of the New York City skyline; and more.

Editor’s note: This story was updated at 10:42 a.m. EST on Feb. 3, 2022, to include information regarding the representation of the buyer by Coldwell Banker Realty.