“Each of these Monmouth County class-B properties is poised for value-add enhancements and are among the most attractive asset class for investors, particularly since they account for almost 64% of the Central Jersey metro's total inventory,” says Gebroe-Hammer's Adam Zweibel.

The 38-mile $1.8 billion reconstruction of US 290 will be a bellwether of a new phase of growth for the corridor and Wolff Companies recently acquired 521 acres on the freeway for that very purpose.

Less than a year after the city passed a comprehensive rezoning of Far Rockaway, the city's Department of Housing Preservation and Development and Housing Development Corp. also reported on Wednesday they recently closed on construction financing to deliver 457 units of affordable housing for the initial phase of the Far Rockaway Village project.