TAY Investments Acquires Major Jersey City Development Site for 365-Unit Project
TL;DR
TAY Investments' largest acquisition in Jersey City positions investors to capitalize on the West Side's transformation into a high-demand residential district with premium amenities.
TAY Investments acquired a 56,897-square-foot Jersey City site for an 8-story building with 365 units, 1,500 sq ft commercial space, and 184 parking spaces, targeting 2028 completion.
This development provides affordable, amenity-rich housing with wellness facilities and sustainable design, enhancing community connectivity and quality of life in a transforming neighborhood.
The project features 'The Sanctuary' with a pool, pickleball court, cold plunge, and rooftop bar, integrating cutting-edge technology for a unique urban living experience.
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TAY Investments has closed on its largest acquisition to date, securing a fully approved development site at 212-230 Culver Avenue in Jersey City's West Side neighborhood. The New Jersey-based developer will construct an 8-story building with 365 residential units, approximately 1,500 square feet of ground floor commercial space, and 184 indoor garage parking spaces on the 56,897-square-foot property.
This transaction represents a strategic expansion for TAY Investments, which has been active in Jersey City since 2013 and currently operates six projects in the city. The company's founder, Yuval Shram, stated that the acquisition reinforces their long-term belief in Jersey City's growth potential, particularly in the West Side area. The development demonstrates the firm's willingness to make increasingly significant bets on the submarket's evolution from industrial hub to dynamic residential district.
The property's location is central to a multi-billion dollar transformation occurring along Route 440, driven by three major anchors: the 100-acre Bayfront waterfront redevelopment, the SciTech Scity innovation hub, and the expanding New Jersey City University campus. The site's proximity to transportation infrastructure, being just 0.3 miles from the West Side Avenue Hudson-Bergen Light Rail Station, provides direct access to downtown Jersey City and Manhattan, making it attractive for commuters seeking alternatives to downtown living.
Shram explained that the West Side area offers a unique combination of connectivity, community energy, and long-term value creation. The development will feature "The Sanctuary," a highly amenitized wellness area with indoor and outdoor facilities including a pool, hot tub, state-of-the-art gym, yoga and meditation center, dry and wet saunas, cold plunge, pickleball court, and rooftop bar. The entire building will incorporate state-of-the-art technology features designed to enhance the resident experience.
Market timing played a role in the acquisition decision, with Shram noting that interest rates beginning to move toward normalization and construction cost escalation moderating create conditions for stronger demand for high-end modern apartments in strong growth areas like Jersey City. Construction is expected to commence in the second quarter of 2026, with a grand opening targeted for summer 2028. The project will total 312,915 gross square feet with a mix of studio, one-bedroom, and two-bedroom configurations.
Shram acknowledged the team behind the transaction, including partners at BHI and listing agent Yanni Marmarou, who negotiated what Shram described as likely the standout deal of the 2024–2025 cycle in Jersey City. The development represents TAY Investments' commitment to delivering high-quality, community-driven multifamily housing that elevates neighborhoods and creates meaningful impact for both residents and the broader community.
Curated from Keycrew.co
