GRID Real Estate, LLC (“GRID”), has been exclusively engaged by 451 Communipaw Real Estate Holdings to sell the Lofts at 451 Communipaw Avenue, Jersey City, located in the Opportunity Zone in the Morris Canal community of Jersey City. Well positioned at the entrance to Berry Lane Park, the largest and newest park in the city, the Lofts at 451 offers a truly unique opportunity to own a classic commercial loft building, in one of Jersey City’s creative communities.

Located on Communipaw Avenue, the major east-west corridor in Jersey City, the Lofts at 451 Communipaw Avenue, has an ideal location, in one of Jersey City’s hottest and fastest growing neighborhoods. The property represents one of the few remaining commercial lofts in Morris Canal, making it a desirable location for small creative businesses in the city. The retail potential for the property is extraordinary and the opportunity to add value as the community evolves is strong. As with most neighborhoods in Jersey City, the commute to Manhattan is among the best available in the region, with close proximity to major public transportation options. The Lofts at 451 are a short walk south to the
Garfield Avenue light rail station. The light rail line connects to the Exchange Place PATH stop and provides a 7 minute commute to the Oculus-World Trade Center Transportation Hub. The Pavonia Street PATH station, located on the same light rail line, offers an 18-minute ride to Midtown Manhattan (33rd St. & 6th Ave). The transportation options provide convenient connections to everything in the region, including the three major airports. The Lofts at 451 Communipaw contains two separate buildings, the main building contains, five (5) commercial spaces and the Factory Restaurant and Lounge, located on the entire first floor, for a total of six (6) commercial spaces. The smaller outer building contains the expansion of the Factory Restaurant and outdoor café. In addition, the iconic “Lafayette smoke stack” sits on the property. The Factory Restaurant and lounge is one of the focal points in the Morris Canal community. The Lofts at 451 Communipaw Avenue is located on 12,715 square feet of property or .29 acres. The main building that comprises 451 Communipaw Avenue is approximately 29,151 square feet, approximately, 7,720 square foot per floor. The property has one (1) loading bay and one (1) fright elevator. The property is located on tax block 18901, lots 21. The real estate taxes for calendar year 2024 is $84,493.94 and are presently
being appealed.