Last week, a spectacular nighttime blaze leveled theunder-construction Avalon River Mews, which sits oppositeManhattan's 125th Street, taking all of 15 minutes to spread fromend-to-end of the building. That, and the fact that evidence pointsto a "hot spot" at one corner of the property, is leading officialsto label the fire "suspicious." A sub-plot in the aftermath hassome locals openly questioning the wisdom of the runawaydevelopment that has engulfed the Hudson riverfront in Hudson andBergen counties.

"It certainly is a suspicious fire, and our arson team is takinga look at it," confirmed Bergen County executive Pat Schuber tolocal reporters. The Bergen County assistant prosecutor agrees butwon't release any details about the investigation just yet.

According to Gary Steinfield of developer AvalonBay Communities,his company is providing housing for about 100 people displacedwhen the fire spread to several adjacent homes. AvalonBay, thecountry's 16th largest luxury apartment builder, is based inAlexandria, VA and has tri-state regional offices in Iselin, NJ andNew York City.

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
NOT FOR REPRINT

© 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.