Panepinto Properties has purchased Harborside 8 and 9, a premier 4.2-acre mixed-use
development site located along the Hudson River waterfront in Jersey City, where it
plans to build transformative mixed-use towers, Cushman & Wakefield announced
Tuesday.
Panepinto bought the properties from Veris Residential for $75 million.
The site sits within the Harsimus Cove Station Redevelopment Area and is fully
planned, entitled, and positioned for large-scale residential and retail development.
Harborside 8 is fully approved with complete construction drawings in place, permitting
immediate development of a 65-story tower including 678 apartments, 8,578 square feet
of retail, a 350-space parking garage, and a 40,000-square-foot redesigned public park
along the Hudson River.
Harborside 9 received site plan approval in 2024 for a 57-story tower comprising 579
units, 14,800 square feet of retail, and a 555-space structured garage. Both buildings
are designed to deliver extensive indoor/outdoor amenities, waterfront activation, and
connectivity to the surrounding Harborside campus.
“We are proud to take ownership of Harborside 8 and 9,” Panepinto Founder and CEO
Joseph Panepinto, Sr., said. “This acquisition reflects my long-standing belief that this
formerly industrial waterfront would evolve into a modern, world-class community.
“Having represented Jersey City in its early redevelopment, helping shape its rising
skyline has been a defining part of my life’s work. I look forward to keeping that
progress a priority. We thank Cushman & Wakefield for their commitment and
dedication in helping us complete this deal.”
The Cushman & Wakefield Tri-State Capital Markets Team, including Andy Merin, Niko
Nicolaou, Ryan Dowd, and JP Hohl, along with RePropCo’s Brian Whitmer, advised the
seller.
Dowd, managing director and co-head of Cushman & Wakefield’s Northeast Multifamily Advisory Group, said Harborside 8 and 9 represent one of the most compelling – and one of the last remaining – large-scale development opportunities on the Jersey City
Waterfront.
“With full approvals already in place and a growing tenant demand for new apartments,
the site is uniquely positioned to deliver meaningful long-term value,” he said.
“We’re pleased to have worked with Veris Residential on this transaction and look
forward to seeing Panepinto advance the next phase of the Harborside neighborhood.”
Positioned less than a quarter mile from the Exchange Place PATH station, 8 and 9
Harborside Place offers exceptional transit connectivity, providing future residents direct
access to Manhattan’s World Trade Center in four minutes.
“The sale of Harborside 8 and 9 allows Veris Residential to sharpen our focus on our
core operating portfolio across Jersey City and the broader Northeast,” Veris CEO
Mahbod Nia said. “Jersey City continues to see strong multifamily fundamentals and
sustained demand, and we look forward to Panepinto advancing the next phase of
development at this site.”
The sale of Harborside 8 & 9 completes Veris Residential’s exit from the Harborside
complex. The Cushman & Wakefield team had previously facilitated the sales of
Harborside 1, 2, 3, 4, 5 and 6, totaling $609 million.
