JLL closes $31.9M sale of community in JC’s Bergen-Lafayette

Solaris Lofts, located in the Bergen-Lafayette neighborhood of Jersey City with access to the Hudson Waterfront and Manhattan, has a new owner.

JLL Capital Markets announced the $31.9 million sale of the 72-unit multifamily building July 13. The firm marketed the property located at 65 Maple St. on behalf of the seller, PERE; Beachwold Residential LLC acquired the asset.

“Jersey City and the Hudson Waterfront have seen an incredible bounce back since the heart of COVID, with increased occupancies, limited concessions and strong rent growth,” Capital Markets Senior Director Michael Oliver said in a statement. “Solaris Lofts is a beautiful boutique building in a burgeoning neighborhood of Jersey City. The Beachwold team will be able to leverage off their existing portfolio in the area and see continued success with this new investment.”

Oliver was part of the JLL Capital Markets Investment Advisory team that represented the seller, leading the efforts along with Senior Managing Director, New Jersey Office Co-Head Jose Cruz; Managing Director Steve Simonelli; Senior Managing Director Kevin O’Hearn; and Associate Josh Stein.

Solaris Lofts was built in 2019. Its mix of studio, one-, two- and three-bedroom units offer 9-foot ceilings, casement loft windows, white oak flooring and in-unit laundry with exposed concrete walls and ceilings, solid birch kitchen cabinets and stainless steel appliances. In 2021, JLL arranged $20.03 million refinancing for the property on behalf of PERE.

In addition to mass transit options (the Hudson-Bergen Light Rail at Liberty State Park station is a block away), Interstate 78 is less than a mile from the property offering access to Interstate 95; both the Lincoln and Holland tunnels are within five minutes. Walkable landmarks include Liberty State Park, the Liberty Science Center and various bars and restaurants.