Kushner Companies announced today that it has bought the vacant One Journal Square in Jersey City, the site of a long-delayed project that was once set to house 1,500 rental units and 150,000 square feet of retail space in two 60-story towers mere steps from the Journal Square PATH station.
Kushner, headed by CEO Jared Kushner, partnered 50/50 with KABR Group to purchase the property for $27 million, the companies announced today. The two entities are also developing a site across the street — 30 Journal Square, the former headquarters of The Jersey Journal — into a 40-story residential tower.Jersey City, our current headquarters (and where our EIC HD also lives), is about to become infected by the hispters. Construction on these towers is set to begin next month, and when they're finished and launch mating calls for the trust fundies out Midwest, our $700/month deal will probably go down the drain.
Can't say we're too surprised. Journal Square is 9 minutes from One World Trade Center, and about 20-23 mins to the West Village via PATH on a good weekday. Given that, and how those monsters devoured Brooklyn, it was only a matter of time before they discover Jersey City.
We just hope they take a while heading to McGinley Square. And even that seems highly unlikely.
Credit for picture goes to http://www.telegraph.co.uk/men/the-filter/11113544/Everyone-hates-hipsters-but-do-they-really-exist.html