The Morgan at Provost Square

By Cecilia Levine From Daily Voice

A luxury apartment tower in Jersey City has sold in the largest multi-housing transaction in New Jersey this year, JLL Capital Markets said last month

The property, The Morgan at Provost Square, is a 417-unit high-rise located at 160 Morgan St. in Jersey City’s bustling Waterfront neighborhood. 

JLL represented the seller — a joint venture that includes Toll Brothers Apartment Living — and also advised the buyer, Rockpoint, a real estate private equity firm, on acquisition financing. Terms were not released.

Built in 2016, the 38-story tower spans 365,361 rentable square feet and is more than 97 percent occupied, JLL said. The property includes studios, one-, two-, and three-bedroom units, as well as penthouses on the top two floors. It also features 12,700 square feet of retail space and a seven-story parking garage with 372 spaces.

Residents have access to resort-style amenities, including a rooftop pool with Manhattan skyline views, a sky lounge and conference room, a fitness center, an outdoor fire pit courtyard, a pet spa and dog wash, and multiple co-working spaces. Each apartment includes stainless steel Whirlpool appliances, quartz countertops, espresso cabinetry, Kohler fixtures, and in-unit GE washers and dryers, according to JLL.

Situated steps from the Grove Street PATH Station, residents can reach Manhattan’s Financial District in 15 minutes and Midtown in 23 minutes, JLL said. The building is also near Whole Foods, local dining and entertainment, and one mile from Interstate 78 and the Holland Tunnel.

The deal was led by Senior Managing Directors Jose Cruz, Michael Oliver, and Steve Simonelli, along with Senior Director Ryan Robertson and Directors Elizabeth DeVesty and Austin Pierce, according to JLL.