Harrison Station delivers luxury residences to burgeoning Harrison marketplace

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The fully attended chic lobby/lounge of Harrison Station 330 features contemporary interior design with a cactus garden. The new building is part of the multiphase development by the Ironstate Development Co. and The Pegasus Group in Harrison, that already includes 275 rental residences, street-level retail space and a Starwood Hotels and Resorts Worldwide Inc. property.

via NJ.COM – Harrison, New Jersey’s transformation into a dynamic transit-oriented neighborhood, has taken another step forward with the launch of Harrison Station 330, a new collection of 329 modern rental apartments located next to the town’s PATH station.

Harrison Station 330 blends studio, one- and two-bedroom residences with a full suite of indoor and outdoor amenities and street-level retail space. Immediate occupancy is available.

The architecturally distinctive building is the third phase of a multiphase development Ironstate Development Co. and The Pegasus Group are executing adjacent to the Harrison PATH station that is spearheading the revitalization of the once-industrial town.

The project’s first two phases, which are completed and occupied, include 275 apartments, more than 20,000 square feet of street-level retail space and the 138-key Element Harrison hotel, part of the American hotel and leisure company Starwood Hotels and Resorts Worldwide Inc.

Once completed, the overall development will feature 2,250 residences and 80,000 square feet of retail space, in addition to the hotel.

harrison-station-330-one-bedroom-living-roomjpg-1f1ae75c93ecf4e0“Our company’s core business is rooted in revitalization; recognizing an area’s untapped potential and creating the necessary elements for a vibrant, urban-lifestyle experience,” said Michael Barry, president of Ironstate Holdings LLC. “In Harrison, that meant building a neighborhood around the existing PATH station with new apartments, socially interactive amenities, a lively streetscape of shops and dining and a boutique hotel with a restaurant and bar.

“We’re thrilled to introduce the latest offering of residences, which will continue to shape this new neighborhood while providing an exciting alternative to more expensive options in Jersey City and Hoboken,” Barry said.

Harrison Station 330 builds on the success of the earlier development phases while carving out its distinct identity.

The building’s aesthetic provides a nod to the area’s industrial past yet showcases contemporary architecture and interior design.

Monthly rents start from $1,725.  Three fully furnished model homes are open for viewing.

“Each home at Harrison Station 330 was designed to maximize resident comfort,” said Jacqueline Urgo, president of The Marketing Directors, the community’s leasing and marketing agent. “High ceilings, oversized windows, designer finishes, washers/dryers and chef-inspired kitchens with top-of-the-line General Electric appliance packages are just a few of the details that make the living experience so exceptional.”

Also enhancing the living experience are imaginatively designed amenities, including a fully attended chic lobby/lounge, state-of-the-art fitness center, residents’ lounge with business bar, an additional lounge with Ping-Pong and a landscaped courtyard with a swimming pool, barbecues, a fire pit and an expansive lawn area.

A parking garage and surface parking lot also are available.

Residents will appreciate Harrison Station 330’s proximity to the Harrison PATH station, which provides convenient service to Newark, Jersey City, Hoboken and Manhattan. The New Jersey Turnpike and I-280 are easily accessible for motorists. Numerous shops, restaurants and attractions are a short walk away, including Cork Wine & Liquors, Pronto Marketplace & Deli, Dunkin’ Donuts, Five Guys, a dry cleaner and the Element hotel,  all located within the development.

For more information on Harrison Station 330, visit HarrisonSTN.com or call (973) 484-3300. The community’s onsite leasing center is located at 330 Angelo Cifelli Drive.

Harrison Station Grand Opens

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This modern community space at Harrison Station 330 incorporates industrial elements in its interior design.

via NorthJersey.com – Harrison’s transformation into a dynamic transit-oriented neighborhood has taken another step forward with the launch of Harrison Station 330, a new collection of 329 modern rental apartments located one block from the town’s PATH station.

Mayor James A. Fife and fellow state and local officials joined developers Ironstate Development Company and The Pegasus Group on Thursday, December 3, to celebrate the grand opening of Harrison Station 330, which features studios, one- and two-bedroom residences, as well as a full suite of indoor and outdoor amenities and 9,600 square feet of street-level retail space. Immediate occupancy is available.

The architecturally-distinctive building is the third phase of a multi-phase development Ironstate and The Pegasus Group are executing adjacent to the Harrison PATH station that is spearheading the revitalization of the once industrial town. The project’s first two phases, which are completed and occupied, include 275 apartments, more than 20,000 square feet of street-level retail space and a 138-key Element hotel from Starwood Hotels & Resorts Worldwide, Inc. Once completed, the overall development will feature 2,250 residences and 80,000 square feet of retail space, in addition to the hotel.

“Our company’s core business is rooted in revitalization; recognizing an area’s untapped potential and creating the necessary elements for a vibrant, urban lifestyle experience,” said Michael Barry, president of Ironstate Holdings, LLC. “In Harrison, that meant building a neighborhood around the existing PATH station with new apartments, socially-interactive amenities, a lively streetscape of shops and dining, and a boutique hotel with a restaurant and bar. We’re thrilled to now introduce the latest offering of residences, which will continue to shape this new neighborhood while providing an exciting alternative to more expensive options in Jersey City and Hoboken.”

Harrison Station 330 builds on the success of the earlier development phases while carving out a distinct identity for itself. The building’s aesthetic provides a nod to the area’s industrial past yet showcases contemporary architecture and interior design.

Studios, one- and two-bedroom residences are currently offered at monthly rents starting from $1,555. Three fully-furnished model homes are open for public viewing.

“Each home at Harrison Station 330 was designed to maximize resident comfort,” said Jacqueline Urgo, president of The Marketing Directors, the community’s exclusive leasing and marketing agent. “High ceilings, oversized windows, designer finishes, washer/dryers and chef-inspired kitchens with top-of-the-line GE appliance packages are just a few of the details that make the living experience so exceptional.”

Also enhancing the living experience are thoughtfully-designed amenities, including a fully-attended chic lobby/lounge, state-of-the-art fitness center, residents’ lounge with business bar, an additional lounge with ping pong and a landscaped courtyard with a swimming pool, barbecues, a fire pit and an expansive lawn area. A parking garage and surface parking lot are also available.

Residents will also appreciate Harrison Station 330’s proximity to the Harrison PATH station, which provides convenient service to Newark, Jersey City, Hoboken and Manhattan. Route 280 and the New Jersey Turnpike are both easily accessible for motorists. Numerous shops, restaurants and attractions are located within the development.

“Our goal has always been to create a vibrant mixed-use community in Harrison in the same vein as Hoboken and Jersey City that respects the local fabric,” added Richard Miller, a principal with The Pegasus Group. “The pedestrian-friendly design and easy access to mass-transit service has clearly appealed to professionals and those interested in the New Urbanism lifestyle.”

For further information on Harrison Station 330, visit www. HarrisonSTN.com or call 973-484-3300. The community’s on-site leasing center is located at 330 Angelo Cifelli Drive.

Harrison Station 330 Delivers 329 Luxury Apartments to Burgeoning Harrison Residential Marketplace

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(L-R): David Barry, President of Ironstate Development Company, and James A. Fife, Mayor of the Town of Harrison, celebrate the opening of Harrison Station 330

New Building is Latest Addition to a Multi-Phase Development that Already Includes 275 Rental Residences, Street-Level Retail Space and a Starwood Element Hotel

HARRISON, NJ – Harrison, NJ’s transformation into a dynamic transit-oriented neighborhood has taken another step forward with the launch of Harrison Station 330, a new collection of 329 modern rental apartments located one block from the town’s PATH station.

Mayor James A. Fife and fellow state and local officials joined developers Ironstate Development Company and The Pegasus Group on Thursday, December 3, 2015 to celebrate the grand opening of Harrison Station 330, which features studios, one- and two-bedroom residences, as well as a full suite of indoor and outdoor amenities and 9,600 square feet of street-level retail space.  Immediate occupancy is available.

The architecturally-distinctive building is the third phase of a multi-phase development Ironstate and The Pegasus Group are executing adjacent to the Harrison PATH station that is spearheading the revitalization of the once industrial town.  The project’s first two phases, which are completed and occupied, include 275 apartments, more than 20,000 square feet of street-level retail space and a 138-key Element hotel from Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT).  Once completed, the overall development will feature 2,250 residences and 80,000 square feet of retail space, in addition to the hotel.

“Our company’s core business is rooted in revitalization; recognizing an area’s untapped potential and creating the necessary elements for a vibrant, urban lifestyle experience,” said Michael Barry, President of Ironstate Holdings, LLC.  “In Harrison, that meant building a neighborhood around the existing PATH station with new apartments, socially-interactive amenities, a lively streetscape of shops and dining, and a boutique hotel with a restaurant and bar.  We’re thrilled to now introduce the latest offering of residences which will continue to shape this new neighborhood while providing an exciting alternative to more expensive options in Jersey City and Hoboken.”

Harrison Station 330 builds on the success of the earlier development phases while carving out a distinct identity for itself.  The building’s aesthetic provides a nod to the area’s industrial past yet showcases contemporary architecture and interior design.

Studios, one- and two-bedroom residences are currently offered at monthly rents starting from $1,555.   Three fully-furnished model homes are open for public viewing.

“Each home at Harrison Station 330 was designed to maximize resident comfort,” said Jacqueline Urgo, President of The Marketing Directors, the community’s exclusive leasing and marketing agent.  “High ceilings, oversized windows, designer finishes, washer/dryers and chef-inspired kitchens with top-of-the-line GE appliance packages are just a few of the details that make the living experience so exceptional.”

Also enhancing the living experience are imaginatively-designed amenities, including a fully-attended chic lobby/lounge, state-of-the-art fitness center, residents’ lounge with business bar, an additional lounge with ping pong and a landscaped courtyard with a swimming pool, barbecues, a fire pit and an expansive lawn area.  A parking garage and surface parking lot are also available.

Residents will also appreciate Harrison Station 330’s proximity to the Harrison PATH station, which provides convenient service to Newark, Jersey City, Hoboken and Manhattan.  Route 280 and the New Jersey Turnpike are both easily accessible for motorists. Numerous shops, restaurants and attractions are just a short walk away, including Cork Wine & Liquors, Pronto Marketplace & Deli, Dunkin’ Donuts, Five Guys, a dry cleaner and the Element hotel,  all located within the development.

“Our goal has always been to create a vibrant mixed-use community in Harrison in the same vein as Hoboken and Jersey City that respects the local fabric,” added Richard Miller, a Principal with The Pegasus Group.  “The pedestrian-friendly design and easy access to mass-transit service has clearly appealed to professionals and those interested in the New Urbanism lifestyle.”

For more information on Harrison Station 330, visit www.HarrisonSTN.comor call (973) 484-3300. The community’s on-site leasing center is located at 330 Angelo Cifelli Drive.

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About Ironstate Development Company

Ironstate Development Company is one of the largest privately held real estate development companies in the Northeast. Based in Hoboken, New Jersey, Ironstate engages in the development and management of large-scale mixed-use projects and has a diverse portfolio of residential and hospitality assets. Additional information on Ironstate Development Company is available on the Company’s website at www.ironstate.net.

About The Pegasus Group

Founded in 1997 and based in New York City, The Pegasus Group is an owner and developer of multi-tenant real estate properties. The Company maintains the philosophy and operating style rooted firmly in adaptive reuse and urban revitalization.  The Company’s principals possess more than 60 years of industry experience.  www.thepegasusgroup.com

Harrison Building BOOM!

Rose Duger at NJ.com reports on the state of development in Harrison and Kearny.

For newlyweds Noorin Hamid and Zain Naqvi, convenience was key when choosing their first apartment.

Photo:  Reena Rose Sibayan | The Jersey Journal

Photo: Reena Rose Sibayan | The Jersey Journal

Married in January, the Monmouth County couple moved a month later to Water’s Edge, a new 141-unit apartment complex in Harrison. The combination of new construction and proximity to the Harrison PATH station sealed the deal for the couple, who work in Manhattan.

“We both work in the city, so Water’s Edge made sense for us,” said Hamid. “The shorter commute gives us more time together and we both love the layout of the apartment. It’s a good size for two people and it feels very comfortable, so overall, it is a good living situation for us.”

Apparently, others agree. Water’s Edge, which was constructed by Livingston-based BNE Real Estate Group and opened in September, is already 85 percent occupied, as of late March. Monthly rents for the studio, one- and two-bedroom apartments start at $1,600.

“Harrison is undergoing a tremendous renaissance and we are thrilled to be a part of it,” said Jonathan Schwartz, senior vice president of BNE Real Estate Group. “Water’s Edge reflects our commitment to creating innovative, well-thought out residences in strategic locations near mass transportation that meet the needs of today’s sophisticated renter.”

 Another project nearing completion, Harrison Station, is located adjacent to the PATH station. The third phase of the mixed use development will include 329 residences and 8,700 square feet of retail. Two earlier phases included an Element Hotel, which opened in August, along with 275 rental units and 12,184 square feet of retail space that opened in 2011. Construction should be completed by October, according to George Cahn, president of Cahn Communications and a spokesman for Ironstate Holdings and The Pegasus Group, the two firms building the project.

Also in Harrison, construction of Vermella Harrison is nearly complete, with the first 100 apartments slated for occupancy by the end of the summer, according to Lisa Kaplan, director of marketing for Carlstadt-based Russo Development. Located adjacent to Red Bull Arena and the Harrison PATH station, the complex will feature 402 rental units, as well as 15,000 square feet of retail space.

FULL ARTICLE

Meridian Capital Sets Up $50M Financing For Harrison Station

By ANTOINETTE MARTIN at GlobeSt.com

HARRISON, NJ–Meridian Capital Group has negotiated $49,950,000 in permanent financing for the first multifamily rental building to open last year at the huge Harrison Station development here, GlobeSt.com has learned. The pioneer building was a joint venture by Ironstate Development and the Pegasus Group.

The 10-year Freddie Mac loan carrying an interest rate of 3.69% was provided by Beech Street Capital through its correspondent relationship with Meridian. David Cohen and Russ Drebin, both based in Meridian’s Iselin office, arranged the transaction.

“We tracked this project very carefully,” Cohen tells GlobeSt.com. “Harrison Station is a stunning new development that had strong lease-up velocity.”

Furthermore, the timing was good, said. Cohen. “The recent dip in treasury yields created an opportunity to secure low-cost long-term debt at exactly the same time the property began showing its full potential,” he says.

Six different development companies are now at work on projects at the 200-acre redevelopment site around the Harrison PATH station, and Ironstate/Pegasus is currently building a boutique Element by Starwood hotel next to its rental building. The rental, located at 300 Somerset St. off Frank E. Rogers Boulevard, opened a year ago and achieved full lease-up within nine months.

The four-story complex stands adjacent to the train station, and features an attended lobby, a fitness center, an outdoor pool and volleyball court, lounge, and garage parking — all within walking distance of the Red Bulls major league soccer stadium.

Meridian Capital Group is based in New York, with offices in New Jersey, Maryland, Illinois, Florida, Arizona and California. It arranges financing for deals from $1 million to more than $500 million in a diverse array of property types: multifamily, co-op, office, retail, hotel, and mixed-use, industrial, healthcare, student housing, self-storage and construction properties.

Harrison Leaders Form Community Development Association

 

 

By Kelly Stratton, Contributing Writer

NEW JERSEY—Residential and commercial real estate developers in Harrison have joined forces to create the Harrison Community Development Association, a coalition whose mission is to work cooperatively with town officials and the local community to promote and drive the transformation of the city into a dynamic mixed-use, transit-oriented destination.

The Harrison Community Development Association comprises the Town of Harrison, Advance Realty, BNE Real Estate Group, Heller Industrial Parks, Ironstate Development, The Pegasus Group, Roseland Property Company and Russo Development.

Master planned to complement the existing character of Harrison, the new developments underway or planned will transform the town’s 250-acre redevelopment area over the next 10 years. The comprehensive redevelopment effort will deliver new residential opportunities and hundreds of thousands of sq. ft. of retail and commercial space, as well as public spaces.

Harrison’s redevelopment area encompasses 32 percent of the town’s 1.2 sq. miles and is located along the Passaic River. At its centerpiece sits The Port Authority Trans-Hudson (PATH) rapid transit station. In April, the Port Authority of NY and NJ announced its plan to invest $256 million to completely redevelop and modernize the PATH station, which serves more than 7,000 commuters each weekday.

Significant projects that have already been completed include the Red Bull Arena, which opened in March 2010; a 165-room Hampton Inn hotel; the first phase of Ironstate Development and The Pegasus Group’s Harrison Station mixed-use residential and retail development; a new 1,440-space parking structure; a Complete Street road network and a waterfront walkway.

Future planned development includes commercial and residential projects, a hotel, public open space and community facilities and additional parking structures.

Major projects include additional phases of Harrison Station; Heller Urban Renewal’s Harrison Station, a mixed-used community; Advance Realty’s Riverbend District; Roseland Property Company and BNE Real Estate Group’s River Park at Harrison; Element by Westin, a $38 million hotel; and Russo Development’s mixed-used development.

To date, there have been more than $286 million of public funds expended or committed to the redevelopment effort in Harrison, as well as more than $650 million of private investment expended or committed in the short term.

First Group of Harrison Station Rentals Are Fully Leased

Via GlobeSt.com/ANTOINETTE MARTIN

Harrison Station
is now 100% occupied.

HARRISON, NJ-All 275 units are now leased and occupied at the first Harrison Station complex, Greg Russo, a principal of Ironstate Development, tells GlobeSt.com. Debuting last September as the first rental project in a planned mixed-use community on 245 acres around a PATH Station, the building leased quickly from the start.

“We were able to stop offering concessions by March, and are now seeing some decent rent increases,” says Russo. Because the project was the first luxury rental building to go up in a raw post-industrial area where abandoned warehouse buildings still stand on surrounding streets, a month’s free rent was originally offered as enticement.

The development features an Olympic-size outdoor pool and deck, a fitness center, and other amenities. The exclusive marketing and leasing agent for the property was The Marketing Directors, which is based in New York and which has long been active selling and leasing apartments on New Jersey’s Gold Coast.

Ironstate, which has Pegasus Group as a partner in Harrison, is to begin work within a few months on a 136-room Element by Starwood hotel adjacent to the rental complex and PATH station. Also, by the end of the year, the companies will break ground on a second residential complex, Russo says.

The partners are only two of six development companies at work on projects under way at the massive redevelopment site. Russo Development, headed by Edward Russo – no relation to Greg – has begun construction of a 300-unit rental apartment building.

Heller Industrial has nearly completed demolition of buildings across Frank E. Rogers Boulevard from the PATH station, which is itself scheduled to be rebuilt starting next year. Heller expects to begin work on a mixed-use structure including 65 rentals by the end of the year.

The Ironstate/Pegasus building includes almost 13,000 square feet of street-level space, and Russo says this is also filling up. A Five Guys restaurant is now open at the site, and Russo reported recent lease-signings with a Pronto Gourmet market, Fakara restaurant and the hair salon Pro Cut.