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COMPLETED PROJECTS

Mill Rocks, Point Capital Development

Mill Rocks

361 Newark Avenue | Jersey City, NJ 07302

 

39-unit new construction, market rate residential apartment building. Obtained $7.3MM in bank financing and $3.3MM in equity financing to acquire and develop 23,000sf parcel of land. Obtained all municipal approvals. Project under construction.

The Baker Building, Point Capital Development

Baker Building

234 Suydam Avenue | Jersey City, NJ 07304

 

83-unit new construction, market rate residential apartment building. Obtained $14.8MM in bank financing and $4.8MM in equity financing to acquire and develop a 32,000sf vacant factory and adjoining parking lot. Demolished existing structure, conducted environmental remediation, and obtained all municipal approvals for project including along term tax abatement. Project under construction.

Point Capital Development

68 Erie Street

68 Erie Street | Jersey City, NJ 07302

 

Obtained major site plan approval for a minor subdivision and construction of a 5 story, 12 unit residential condominium building. Obtained all construction permits and approvals; sold parcel and approvals with gross revenue of $1.87MM.

95 Montgomery Street

95 Montgomery Street | Jersey City, NJ 07302

 

Reconstruction project converting former factory into an 18-unit building with ground floor commercial. Obtained $3.35MM in bank financing and $2.1MM in equity financing to acquire 20,000sf vacant factory. Project consisted of gut rehabilitation of existing structure and addition of 5,000sf new construction including the addition of a sixth story to the building. Project sold in 2018 from $10.75MM generating a total return of 349% over the life of the project

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229 Third Street

229 Third Street | Jersey City, NJ 07302

 

Reconstruction and condominium conversion of 8-unit historic row home. Obtained all required municipal approvals and permits. Obtained $1MM in bank acquisition and construction financing; raised $700,000 in investor equity. Eight of eight units sold with gross revenues of $2.21MM.

200-208 Street

200-208 Street | Jersey City, NJ 07302

 

Reconstruction and condominium conversion of four, 8-unit historic row homes. Obtained all required municipal approvals and permits. Obtained $5MM in bank acquisition and construction financing; raised $1.6MM in investor equity. All 32 units sold with gross revenues of $9.5MM.​

208 Seventh Street

208 Seventh Street | Jersey City, NJ 07302

 

Renovation and condominium conversion of 8-unit historic row home. Obtained all required municipal approvals and permits. 8 units complete and sold. Gross sales of $1.6MM (2 hold over protected tenants in remaining 2 units sold to investor at discount).

131 Kensington Ave

131 Kensington Ave | Jersey City, NJ 07304

 

Renovation and condominium conversion of a 38 – unit historic building. Obtained all required municipal approvals and permits for renovations and State approvals for condominium conversion. Gross sales to date (21 units): $4.168MM.​

340 Fairmount Ave

340 Fairmount Ave | Jersey City, NJ 07306

 

Renovation and condominium conversion of a 54 – unit historic building. Obtained all required municipal approvals and permits for renovations and State approvals for condominium conversion. Project complete with gross revenues of $7.242MM.​

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60 Erie Street

60 Erie Street | Jersey City, NJ 07302

 

Renovation and condominium conversion of an 18 – unit historic building, former schoolhouse. Obtained all required municipal approvals and permits for renovations and State approvals for condominium conversion. Project complete with gross revenues of $6.86MM.

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200 Sixth Street

200 Sixth Street | Jersey City, NJ 07302

 

Reconstruction and condominium conversion of 8-unit historic row home. Obtained all required municipal approvals and permits. Obtained $960M in bank acquisition and construction financing; raised $400,000 in investor equity. Eight of eight units sold with gross revenues of $2.175MM.

672 Grand Street 

672 Grand Street | Jersey City, NJ 07304

 

16 units. Within 12 months of acquisition, increased rent roll by 25% through capital improvement. Stabilized ROE of 12%

324 Fourth Street

324 Fourth Street | Jersey City, NJ 07302

 

4-unit reconstruction project. Awarded $700M HUD grant to create 4 units of affordable housing.

Point Capital Development