Jersey City-based Panepinto Properties has acquired the Harborside 8 and 9 land parcel for $75 million from Veris Residential, Inc. The 4.2-acre site, located on the Jersey City waterfront, is planned for two high-rise buildings with a total of 1,257 apartments and new amenities.
The transaction was arranged by Cushman & Wakefield (C&W). According to C&W’s brokerage team, Harborside 8 is a fully approved project with construction drawings ready, allowing immediate development of a 65-story tower. This building will include 678 rental units, over 8,500 square feet of retail space, a parking garage with capacity for 350 vehicles, and a redesigned public park along the Hudson River covering 40,000 square feet.
Harborside 9 received site plan approval in 2024 for a separate tower with 57 stories and 579 residential units. It will also feature nearly 15,000 square feet of retail space and a structured garage with room for 555 cars. Both buildings are designed to offer indoor and outdoor amenities as well as enhanced access to the waterfront and integration with the larger Harborside campus.
“We are proud to take ownership of Harborside 8 and 9,” said Joseph Panepinto Sr., founder and CEO of Panepinto Properties. “This acquisition reflects my longstanding belief that this formerly industrial waterfront would evolve into a modern, world-class community. Having represented Jersey City in its early redevelopment, helping shape its rising skyline has been a defining part of my life’s work. I look forward to keeping that progress a priority. We thank C&W for its commitment and dedication in helping us complete this deal.”
Ryan Dowd, managing director and co-head of C&W’s Northeast Multifamily Advisory Group added: “Harborside 8 and 9 represent one of the most compelling — and one of the last remaining — large-scale development opportunities on the Jersey City waterfront. With full approvals already in place and a growing tenant demand for new apartments, the site is uniquely positioned to deliver meaningful long-term value. We’re pleased to have worked with Veris Residential on this transaction and look forward to seeing Panepinto advance the next phase of the Harborside neighborhood.”
The location is less than a quarter-mile from Exchange Place PATH station, offering future residents direct access to Manhattan’s World Trade Center in about four minutes. The sale also marks Veris Residential’s final exit from the Harborside complex as part of its ongoing effort to streamline its property portfolio after transitioning from Mack-Cali Realty Corp.
