WEEHAWKEN, NJ-Hartz Mountain Industries executives are happy with the way the second phase of their Estuary luxury apartment complex in Lincoln Harbor here is leasing up. The project's second phase, which opens July 15, is currently 30% leased.
“The leasing velocity is exceeding what we projected,” Gus Milano, a managing director at the Secaucus, NJ-based development firm, tells GlobeSt.com. He says at the current absorption rate, all 174 units in the asset's second phase should get leased up within the next four months.
The first phase of the Estuary, which opened in February with 181 dwellings, is currently 95% leased. Phase three is underway, near completion and will contain 227 apartments. Hartz executives expect it top open in for tenants in October.
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