HARRISON, NJ—HornRock Properties, a privatelyrun real estate development firm led by Maurice and DavidHornblass, is developing a 270+ unit apartment building inHarrison, NJ, that will include 15,000 square feet of retail space.The building will rise in a commuter-oriented neighborhood near theHarrison PATH station that is quickly becoming a popularalternative to pricier transit-oriented neighborhoods in Hobokenand Jersey City. Its expected value once stabilized will be $85million.
“What separates us from other homebuilders actively looking toadd assets is a willingness to invest and build a variety ofproduct types as long as they meet certain criteria,” says David Hornblass. “We seek properties thatare well-located, near transportation and are in markets wherethere is either a strong demand for a specific housing type ortremendous growth potential.”
HornRock has experienced notable growth in thepast two years by investing in and developing several residentialreal estate assets in the Metropolitan New York marketplace.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.