JERSEY CITY, NJ-HFF has closed on the sale of a 5.2-acre redevelopment site at 180 Baldwin Avenue near Journal Square here.
The price was not disclosed and neither was the identity of the parties to the transaction – except that both are known as 180 Baldwin LLC.
In 2004, the Jersey City Planning Commission had approved the site for mixed-use redevelopment with up to 596 units.
A 300,000-square-foot manufacturing building that was the former Mueller Pasta Factory currently stands on the property.
HFF's team representing the seller was led by managing director Michael Nachamkin.
“There are very few opportunities in Jersey City for new development and even fewer of this size,” said Nachamkin in a release. “This site is an ideal location for an office or retail development in the heart of one of the most densely populated areas in the country.”
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