Jersey City’s development shows no sign of slowing down. New Jersey based Real Estate company Mack-Cali (CLI) is reportedly in negotiations to purchase the SoHo Lofts for $263 million. The SoHo Lofts were built by Manhattan Building Company out of Hoboken and opened in late 2017. The 377 unit luxury apartment complex is located at 273 16th Street.
For those reading this and are slightly confused by the term SoHo allow me to explain. The Lackawanna neighborhood of Jersey City has more recently been dubbed “SoHo West” for ‘South of Hoboken and West of NYC’. I know, I felt some kind of way about it too, but I think there is huge potential here.
Initially Manhattan Building Company built the Cast Iron Lofts Collection in the emerging neighborhood, but their new SoHo Lofts have proven to be even more glamorous and luxurious. We should not be surprised to see more and more building in this area as Hoboken pushes South and the nicer areas of Jersey City push north.
Would you buy or rent in the SoHo West neighborhood of Jersey City?
Let NYNJ know your thoughts.