The Boundary Hoboken / Jersey City, NJ

The Offering

Cushman and Wakefield has been exclusively retained by JDA Group to arrange the 100% fee interest sale, joint venture, or ground lease for the entitled development of The Boundary located at 50 Harrison St, Hoboken & 2 Hoboken Ave, Jersey City, New Jersey. This 2.34-acre site is situated between Southwest Hoboken and the SoHo West neighborhoods of Jersey City, two of the Gold Coast’s most dynamic neighborhoods that have seen nearly 2,200 luxury residential units under construction or completed since 2013. The existing improvement on the site is a 3-4 story office building known as Mission 50 (86% occupied of 80,000 GSF), along with a surface parking lot for 224 parking spaces. In addition to the parcels referenced, JDA has been named the redeveloper of the adjacent NJ Transit lot encompassing 1.69 acres and slated for an additional 300 units (90% market rate).

The Jersey City parcel (0.63-acre) received final site plan in July 2018, which was amended on July 2020 to allow for the construction of a 13-story residential building with 192 market rate units, 16,395 SF of retail, and a shared garage with 246 parking spaces across both municipalities. The Hoboken parcels (1.47-acre) received final site plan in March 2021 to allow for the construction of a new 6-story medical office building and 3 additional stories to the existing office building along with 19,072 SF of commercial/retail across both buildings. Additionally, the city of Hoboken has approved the vacation of Marshall Street (0.24-acre) as part of the Hoboken approvals for a collective 2.34-acre site.

Jersey City, Hoboken, and the broader Gold Coast have seen rapid growth as residents from pricier markets like Manhattan and Brooklyn are drawn to their larger floor plans, upscale finishes, and robust amenities. Jersey City, now New Jersey’s largest city with over 292,000 residents, continues to expand with over 17,000 residential units in the pipeline. Hoboken, known for its historic charm, modern housing, waterfront parks, and vibrant retail scene, is a top choice for professionals and families thanks to its excellent transit access via the PATH, ferry, and rail. Positioned between these two high-demand areas, The Boundary offers access to both thriving communities and sits within the Hudson Waterfront—the state’s largest office submarket—now a diverse business hub home to major firms across finance, publishing, apparel, shipping, and pharmaceuticals.