(To read more on the multifamily market, click here.)

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JERSEY CITY-Construction is just under way for 154-158 SteubenSt., a new residential condo building here. The project is beingdone as a joint venture between TreeTop Development of New YorkCity and the Hoboken-based Fields Development Group.

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What its developers term a "boutique" condo building will add 18one- and two-bedroom units to the market. Targeted buyers aresingle professionals and young couples, says Adam Mermelstein, aprincipal of TreeTop Development. Features will include on-siteparking and a glass lobby. The developers say that preconstructionsales for the new building will start in April.

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The Developers Group, based in Brooklyn, NY, has signed on asthe exclusive sales and marketing agent for the building. Thelocation is near the Grove Street PATH light rail station, whichconnects to Manhattan.

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