WEEHAWKEN — Lennar Urban and town officials broke ground Tuesday afternoon for the first of five buildings that will make up the new luxury residential “Avenue Collection” on the Weehawken waterfront. Four years in the making, the $50 million dollar, seven-story building will provide 74 one to three bedroom units with an average of 1,600 sq. ft. per unit and will cost prospective buyers an average of $1.4 million.
“We are in the middle of somewhat of a building boom,” Weehawken Mayor Richard Turner announced that day in reference to the upsurge in luxury residential buildings springing up along the waterfront over the past year. “The future looks very bright for Weehawken.”
Once all five buildings are finished, the Avenue Collection will house 669 total condos just south of the Port Imperial Ferry Terminal at 1000 Avenue at Port Imperial. The entire complex will be built in glass, which is a departure from the wood and brick facades of surrounding residences, and will offer homeowners Manhattan skyline views, a parking garage, concierge, social room with a bar, and a fitness center with locker rooms replete with sauna and steam showers.
“The market is moving toward for-sale residences,” Lennar Urban’s Craig Klingensmith said. “Rentals are great but every year the price increases, and people are coming off the fence now and want to invest that money into a purchase.”
For more information, read this weekend’s edition of the Weehawken Reporter. — Gennarose Pope
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