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JLL markets Staten Island waterfront multifamily project for $45M
The transit-oriented Class A development at 5 Bay St. includes 115 residential units in its first phase and sits next to the Staten Island Ferry Terminal.
JLL Capital Markets has been retained as sales advisor for Traingle Equities to market Lighthouse Point, a newly completed, transit-oriented Class A multifamily waterfront development in Staten Island, New York.
The property is located at 5 Bay St. in the St. George neighborhood and has an asking price of $45 million. Lighthouse Point is a mixed-use project adjacent to the Staten Island Ferry Terminal and occupies the former site of the historic U.S. Lighthouse Service General Depot.
According to ConnectCRE, the recently completed first phase features 115 residential units. JLL Capital Markets Investment Sales and Advisory is representing the seller, with the team led by Rob Hinckley and Jeff Julien, and including Steven Rutman and Devon Warren.
Warren said the project offers a rare opportunity in the current market, where new development opportunities are increasingly limited, and that buyers are expected to focus on both the quality already built and the potential ahead.