West New York and Mack-Cali Realty Corp. officials cut the ribbon at the new Capstone at Port Imperial complex on the waterfront this afternoon.
By Daniel Ulloa/Hudson County View
The 330-unit, 11-story building is a 17-minute walk from the nearest light rail station.
Chair of Roseland Residential Trust, a Mack-Cali subsidiary, Marshall Tycher noted that the ribbon cutting was delayed due to the COVID-19 pandemic.
“People have been living in this building through tremendously difficult times,” he said.
Tycher noted 220 units, or about two-thirds of the building, has been rented out already. He also thanked PNC, Providence, and TD Banks for providing capital for the project.
“In the last 15 months it has been very difficult to do anything and everything. That included our projects, projects like these which we are very happy to see come forth as this is a representation of that hard work during a very difficult time,” added West New York Mayor Gabriel Rodriguez.
Rodriguez also noted that Mack-Cali has been involved in the redevelopment of the Hudson County waterfront in West New York since 1996 when little was there.
“So this is just a continuation of that vision,” the mayor said, also noting that the new Capstone building would provide 25,000 feet of retail space and 200 more parking spaces.
The building features many other amenities including a 33,000 square foot deck terrace on the 4th floor with pools, a playground with a nearby bar for parents, six barbecues, a dog park, an outdoor movie theater, and a zen garden.
The interior units of the building face the courtyard while the exterior sides face different sides of the building including Manhattan.
The Capstone also has a gym, a large common room with conference rooms, TVs, a lounge with computers and a fireplace, a large TV, game tables, and a great view of Manhattan.
The lowest studio goes for $2,500 a month, while one of the three bedrooms with two full baths goes for $6,015 a month.
Additionally, the ceremony marked the opening of the first of the developer’s three new luxury properties opening this year.