GN Management, a real estate firm based in Jersey City, has acquired the Harborside 9 development site. This acquisition marks a significant move for a major mixed-use project planned for Jersey City’s waterfront. The transaction included the transfer of the remaining ownership interest in Harborside 9 from Panepinto Properties to GN Management. Panepinto Properties has played a key role in the city’s real estate growth.
The Harborside 9 project is approved for construction of a 57-story tower that will include 579 residential units, nearly 15,000 square feet of retail space, and a parking garage with 555 spaces. Of the residential units, 87 will be designated as affordable housing, representing 15% of the total—an important addition in an area facing limited affordable housing options.
GN Management plans to begin work on Harborside 9 after making minor adjustments to the site plan, aiming to start development in 2027.
“Harborside 9 is a rare opportunity to advance meaningful housing supply on Jersey City’s waterfront, and we’re proud to take this project forward,” said Arvinder Singh Minhas, president of GN Management. “We’re grateful to Panepinto Properties for its collaboration and to Jim Pompa for helping bring the right partners together at the right time.”
The sale comes amid ongoing progress at the site. Earlier developments include Panepinto Properties’ purchase of development rights from Veris Residential Inc. for $75 million and further steps toward implementing Harborside’s Master Plan. The master plan envisions more than 1,200 new residential units across two sites—Harborside 8 and Harborside 9—which together cover over four acres. While Panepinto continues developing Harborside 8—a future mixed-use tower currently under construction—the transfer of rights and ownership for Harborside 9 allows both projects to proceed on similar timelines.
Jim Pompa of Coldwell Banker brokered the deal between GN Management and Panepinto Properties. Pompa has been involved in several major development transactions in Jersey City over recent years.
“This deal required patience, creativity and trust, and ultimately brought together highly respected groups who believe in the future of Jersey City,” said Pompa.
The transaction occurs as demand grows among renters priced out of New York City, which is strengthening Jersey City’s status as one of the most active residential development markets on the East Coast.
“Jersey City remains one of the most resilient and opportunity-rich markets in the region,” said Singh. “We are proud to invest here, and are confident Harborside 9 will reflect the community’s energy, diversity and momentum.”
Bravo Capital provided financing support for GN Management’s acquisition with assistance from finance broker Vivek Jagadish of Blue Mountain Capital. Legal representation was handled by Castano Quigley Cherami LLC.
