We were very pleased to find an adequate number of residential units to meet our needs at Grove Pointe
Jersey City, NJ (PRWEB) February 25, 2008
Saint Vincent Catholic Medical Centers (Saint Vincent's), the umbrella organization for several hospitals and healthcare facilities, has signed a 15-year lease with SK Properties for 65 luxury rental residences at Grove Pointe in downtown Jersey City.
The $34 million transaction was orchestrated by Jaime M. Weiss and Matthew B. Weiss of Weiss Realty of Moonachie, NJ. The residences will be occupied by resident and intern physicians, doctors, nurses, and other hospital personnel, according to SK Properties, which has developed the 30-story luxury rental building located in the heart of Jersey City's vibrant downtown district.
"Since one of its buildings will no longer serve as housing for physician resident and interns, Saint Vincent's recently undertook a search to find up-to-date, conveniently located options for its numerous physician residents and other staff who work at St. Vincent's Hospital Manhattan in Greenwich Village," notes Jonathan Kushner, a principal of SK Properties. "Unable to locate a sufficient amount of available product in Manhattan that was close to the facility, they began an investigation to see if there was a viable alternative in Jersey City, which is easily accessible to the Manhattan hospital. We're delighted they recognized Grove Pointe as an ideal fit for their needs, particularly because of the building's tremendous value, luxury, 24-hour attended lobby and resort-like amenities and services which are certain to appeal to busy, time-constrained medical professionals."
Saint Vincent's enlisted the services of Weiss Realty to conduct a market rental analysis with regard to the housing of professional medical staff.
"The analysis was undertaken to form an opinion of the proposed rentals and their market comparative relationship," said Jaime M. Weiss. "Grove Pointe had the right number of one- and two-bedroom apartments available and a particularly convenient location at the PATH only 12 minutes from the hospital's Downtown Manhattan location, which was of paramount importance to Saint Vincent's."
Administrators at the medical facility quickly recognized the potential of Grove Pointe as a housing alternative for its Manhattan staff.
"We were very pleased to find an adequate number of residential units to meet our needs at Grove Pointe," explained James Woods, Senior Vice President, Real Estate Services at Saint Vincent's. "Not only are the units new and provide the latest amenities for our physicians and staff, but also Grove Pointe is a short commute to the hospital."
Rental activity at Grove Pointe has been strong since the building's Grand Opening last summer, with nearly 90% of the 458 premium rental residences already leased. The homes enjoy an abundance of natural light, as well as panoramic views of the Manhattan skyline, Hudson River, Statue of Liberty and entire "Gold Coast." Studio-to-two-bedroom layouts are available at monthly rents starting at $1,950.
Designed by Manhattan-based DeWitt Tishman Architects, Grove Pointe strikes a commanding presence amid the Jersey City skyline with its exciting mix of tiers, tones and textures. In the expansive lobby, interior designer Amir Khamneipur has blended such elegant finishes and appointments as handsome limestone, Botticino marble, lustrous contemporary accents and dramatic lighting.
The comprehensive amenity offering includes a large outdoor landscaped deck with a pool and sundeck, a fitness club with state-of-the-art training equipment, weight room, Yoga Studio, meditation/stretching area and a relaxing shower feature; and a game room with a billiard table, private screening room and catering kitchen.
There's also a 24-hour uniformed doorman and concierge, a convenient on-site parking garage, and 20,000 square feet of ground-floor retail space that will include a Starbucks, Duane Reade Pharmacy and a Valley National Bank.
For more information, visit Grove Pointe's on-site leasing and model center, located at 100 Christopher Columbus Drive, Jersey City; call (201) 333-8880 or visit the website at http://www.grovepointerentals.com.
About SK Properties:
Headquartered in Bridgewater, N.J., SK Properties is one of the largest privately-held, diversified real estate companies in New Jersey. It owns and manages more than 5 million square feet of office, warehouse and retail space, and owns 8,000 apartments, of which it manages approximately 3,000. http://www.skpropertiesre.com.
About Weiss Realty:
Weiss Realty Co., Inc. is a diversified real estate services and investment organization concentrating on commercial office, industrial and retail properties. Headquartered in Moonachie, New Jersey, the firm operates throughout the New York/New Jersey Metropolitan region and in select markets across the country. http://www.jweissrealty.com.
George M. Cahn
gcahn @ cahncomm.com
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