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Downtown Centuria Project On Block

FORT LEE, NJ-Town & Country's proposed mixed-use project, will apparently now be developed with new investment. Development costs have been estimated at up to $1 billion.

By Eric Peterson | Updated on May 21, 2008

FORT LEE, NJ-It’s been several years in the making, but Town & Country Developers’ proposed Centuria mixed-use project in this city’s downtown will apparently be completed with a new owner. The Woodcliff Lake, NJ-based developer has just put the undeveloped project and its site up for sale. The asking price has not been released, but the project’s development costs have been estimated at between $750 million and $1 billion.

As reported by GlobeSt.com, Town & Country formally unveiled its site plan and obtained approval in late 2005 for a project consisting of 210,000 sf of retail and office space, a 250-room hotel and 800 luxury condos. The long-vacant 16-acre site, once owned by the late Leona Helmsley, is bordered by Lemoine Ave., Bridge Plaza South, Central Rd. and Main St. near the George Washington Bridge. It’s bisected by Martha Washington Way into two roughly equal parcels.

And Town & Country has hired Cushman & Wakefield’s Metropolitan Area Capital Markets Group, East Rutherford, to find a buyer for the property. For C&W, Andrew Merin, David Bernhaut, Gary Gabriel and Jose Cruz are heading the assignment.

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