New Southampton Rented Out; Underscores Area Reputation as NYC's Sixth Borough

JERSEY CITY, NJ-It could be because New Jersey’s residential market is so tight and so hot. Or it could be because high prices across the river in New York City continue to drive folks to here. Or it could be both. In any case, the Lefrak Organization just opened the Southampton, a residential (rental) tower in its Newport planned community on Jersey City’s waterfront, and there’s no room in the inn–already. Most of the building was gone well before it opened, and at rents ranging from $1,400 to $2,500 a month.

“In reality, Newport has become part of Manhattan’s expanding residential and business core,” says Richard LeFrak, president of the organization founded by his father, Sam. “This community and the entire New Jersey Gold Coast have become addresses of choice for young professionals and their families.”