New Development Firm Launches with North Bergen, Jersey City Deals
Skyline Development Group has launched, with the acquisition of a fully approved 14-story project that will deliver 70 boutique condominiums to 8701 Churchill Road in North Bergen.
NORTH BERGEN, NJ—Veteran real estate building and developer Louis Mont has launched a new development group geared at capitalizing on the growing Hudson County housing market.
Mont, who has 40 years’ experience in the Hudson River Gold Cost real estate market, has formed Skyline Development Group, LLC and will serve as the firm’s CEO.
“It’s no secret Hudson County has become a hotbed of residential development and a sought-after location for both New York metro area buyers and renters,” Mont says. “I’m thrilled to be able to create a fresh new company that’s uniquely positioned and staffed to tap into this flourishing market.”
Skyline Development Group has launched, with the acquisition of a fully approved 14-story project that will deliver 70 boutique condominiums to 8701 Churchill Road in North Bergen. The locally-based company has secured $55.5 million in financing for the building from Mosaic Real Estate Investors, which maintains offices in Calabasas, CA and New York City. Jonathan Aghravi of New York City-based JBA Equities served as broker for the transaction.
Construction is scheduled to begin in September for the yet-to-be-named development located just off River Road. The property will be a stark contrast to larger for-sale waterfront buildings in Edgewater and Weehawken by providing a more intimate and personalized living environment, the company states. A suite of customized, resident-only amenities will include a fully outfitted spa experience with a fitness center, steam, sauna, cold plunge, hot tub, carbon tank as well as shower and locker facilities.
In addition to the North Bergen project, Skyline Development Group has already secured property rights to develop a 350-unit project in Jersey City’s Bergen Lafayette neighborhood and anticipates additional future projects to follow.
“Our goal is to provide not only a beautifully appointed luxury home, but also a lifestyle opportunity not commonly found in other Gold Coast buildings,” Mont says.
Mont was the COO of a Jersey City-based company which has built more than 600 luxury rental units in several Jersey City high-rise buildings in recent years. Mont, as a partner in these projects, was responsible for overseeing all operations, including construction, marketing, leasing and management of these offerings. Each of those buildings were the recipients of numerous New Jersey Builder Association Sales & Marketing awards, including several prestigious awards for “Best Rental Building in New Jersey, Over Two Hundred Units,” as well as acknowledgement for the Best Marketing Strategy, Best Leasing Team, Best Leasing Office and Best Website.