JERSEY CITY, NJ−A property at Journal Square, wherere-development efforts are intensely focused right now, has beenacquired by a New York-based company for $31 million, according tobrokers from GFI Realty.
The identity of the buyer of 35 JournalSquare, a 12-story office building built around theturn-of-the-century, was not disclosed in a news release from GFIMonday. GlobeSt.com has not yet been able to get further commentregarding that.
However, Matt Weinreich of Hopkins Group, another New Yorkdeveloper who is working on a residential conversion project atJournal Square, said he had investigated the potential ofconverting 35 Journal Square to residential use and been told bystructural engineers it was virtually nil.
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