The recent sale of The Morgan at Provost Square stands out as a major move in Jersey City’s bustling real estate scene. This luxury apartment tower sits right in the heart of the Powerhouse Arts District.
Residents get premier living spaces just steps from the Grove Street PATH Station. That’s a huge draw for folks who want quick, easy access to Manhattan.
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High occupancy rates, top-notch amenities, and a blend of residential and commercial space show how much demand there is for upscale living in Jersey City. The city’s growth feels almost tangible here.
A Landmark in the Powerhouse Arts District
The Morgan at Provost Square rises 38 stories above the city, mixing sleek, modern design with a prime urban address. Finished in 2016, the building offers 417 units, from studios to three-bedroom apartments.
Opulent penthouses take over the top floors. On average, each unit covers about 876 square feet, balancing efficiency with a touch of luxury.
Convenience Meets Culture
The Morgan’s spot in the Powerhouse Arts District puts residents right at the crossroads of art, cultural happenings, and city energy. The Grove Street PATH Station is just a few steps away.
That means getting to Manhattan takes only minutes. It’s a sweet deal for professionals who want city access without giving up neighborhood character.
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Strong Market Demand
At the time of the sale, The Morgan had a striking 97 percent occupancy rate. That says a lot about the appetite for premium housing in this area.
Jersey City keeps drawing both locals and newcomers, and properties like this are a big part of that story.
Luxury Amenities
Residents here get access to amenities designed for today’s lifestyles. Some highlights include:
- Rooftop pool with panoramic views
- Fully equipped fitness center
- Sky lounge with a private conference room
- Outdoor courtyard for relaxation
- Pet spa for four-legged friends
- Multiple coworking areas for productivity
The building has a seven-story parking garage with 372 covered spaces. That’s a big plus for anyone who drives or just wants one less thing to worry about.
The Sale and Key Players
JLL handled the transaction, with a team including Jose Cruz, Michael Oliver, Steve Simonelli, Ryan Robertson, Elizabeth DeVesty, and Austin Pierce representing the seller. The seller was a joint venture led by Toll Brothers Apartment Living.
Rockpoint, a private equity real estate firm, bought the property, with JLL advising them. It’s a notable deal that reflects ongoing confidence in Jersey City’s changing skyline.
Impact on the Local Economy
Big sales like this one shine a spotlight on Jersey City’s real estate market. They often spark more development in residential, retail, and cultural spaces.
The Morgan offers about 12,700 square feet of ground-floor retail space. That’s plenty of room for businesses eager to serve both residents and visitors, adding some extra life to the neighborhood.
What This Means for Jersey City
Properties like The Morgan set a high bar for urban living. Luxury apartments close to Manhattan just keep attracting more people.
As more buildings blend mixed-use design with upscale amenities, Jersey City keeps making its case as one of the most appealing spots on the Hudson waterfront. Seems like that trend isn’t slowing down anytime soon.
Planning Your Visit
If you’re exploring things to do in Jersey City, the Powerhouse Arts District should be near the top of your list. Between galleries and performance spaces, plus all kinds of dining options, it’s a vibrant area that really shows off the city’s creative side.
For out-of-town guests thinking about where to stay in Jersey City, you’ll find a growing mix of Jersey City hotels. There are boutique spots, luxury suites, and honestly, something for just about every taste.
If it’s your first time here, don’t stress about getting to Jersey City. The Grove Street PATH Station connects straight to Manhattan in just a few minutes, and there are plenty of nearby transit options that link the city to the whole New York metro area.
The Morgan at Provost Square stands out as an example of how high the bar’s been set for urban living along the Hudson. Jersey City keeps changing with every landmark sale and new high-rise, mixing convenience, culture, and community in a way that’s hard not to notice.
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Here is the source article for this story: JLL Negotiates Sale of 417-Unit Apartment Building in Jersey City
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