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C&W gets exclusive agency for Harsimus Cove South.

C&W gets exclusive agency for Harsimus Cove South

Cushman & Wakefield of New Jersey, Inc. has been named as the exclusive agent for Harsimus Cove South, a 52.5-acre tract of land on the prestigious waterfront of Jersey City, New Jersey.

The Harsimus Cove South site is strategically situated between the Newport development, a $2 billion, 270-acre mixed-use development, and Harborside Financial Center which has leased nearly two million square feet of space.

Individual parcels are available for sale, lease or joint venture. The marketing program is being handled by the Cushman & Wakefield brokerage team of Norman Baker, senior director, and Andrew Merin, senior director, out of C&W's East Rutherford, New Jersey office.

Located opposite the World Trade Center along the banks of the Hudson River, the Harsimus Cove South site can accommodate a mixed-use development encompassing eight million square feet of commercial office space with on-site garage parking and over 2,200 residential units. In addition, there are 30 underwater acres allotted for the development of a 250-boat marina.

Among the incentives associated with the property are property tax abatements for up to two million square feet of commercial space and 2,200 residential units, and the financial advantages of being located within Jersey City's Urban Enterprise Zone. Enterprise Zones afford businesses several important tax benefits, including eligibility for corporate business tax credits, significant unemployment insurance tax discounts, and reduced sales tax rates.

PHOTO : In attendance for the announcement at Cushman & Wakefield's East Rutherford, New Jersey Office were (from left) Norman Baker, C&W's senior director; Thomas J. Leane, Director/project coordinator of National Bulk Carriers' Harsimus Cove South; Bertil J. Kaudern, vice president of engineering & Construction for National Bulk Carriers, and Andrew Merin, C&W's senior director.
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Publication:Real Estate Weekly
Article Type:Brief Article
Date:Dec 18, 1991
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