(To read more on the multifamily market, click here.)
BAYONNE, NJ-The square block at Ave. E between 50th and 51ststreets here currently contains three attached commercialbuildings, but Baker Residential wants to change that landscapedramatically. The Pleasantville, NY-based developer has floated aproposal to tear the buildings down and replace them with a107-unit, five-story residential condo building. The city planningboard is scheduled to consider the proposal, which is said torequire variances related to density, in mid-July.
According to plans released by Baker Residential, the Gateway atBayonne, as the project has been dubbed, will include 91two-bedroom units and 16 one-bedrooms on the upper four floors. Theground floor would contain a parking garage with a capacity of 145,according to Baker officials.
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