(To read more on the multifamily market, click here.)
RED BANK, NJ-Ground has been broken for the Metropolitan RedBank, a combination residential condo and professional officeproject on Wallace St. in this city's downtown area. A project ofPyramid Property Partners of Woodbridge, NJ, the building will have37 one- and two-bedroom condo units and 6,000 sf of ground flooroffice space. The site plan also includes two below-grade parkingspaces per residential unit and 35 upper deck spaces for thecommercial tenants.
"This market has solid economic fundamentals and businessgrowth," says Harvey Schultz, a partner of Pyramid. "Thecombination of luxury residential and office space suits the area,"he says, noting that the Woodbridge-based Schultz Residential hasbeen hired as marketing agent for the residential units.
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