"The prices in Manhattan are so astronomical that Jersey City is really a half-price sale," says George Filopoulos, president of Manhattan-based Metrovest Equities. "You've got space, you've got quality of life—you can sit down for a cup of coffee at Paulus Hook and it wouldn't be a stretch to think it's the West Village. And the transportation couldn't be better."
A simple list of the major multifamily developments in the works is astounding:
• The $2-billion Liberty Harbor North, comprising 6,000 housing units, 750,000 sf of retail and four million sf of office space, has its first phase under construction.
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