Fully Approved, Mixed-Use Development Site

500 Summit Avenue benefits from being located in Jersey City's Journal Square district, which serves as a business center, transportation hub and residential area. Jersey City is known for having stunning views of Manhattan's skyline, especially from its dedicated green spaces like Liberty State Park and Hudson River Waterfront Walkway. The property sits directly across from the Journal Square Transit Center (JSTC), home to the Journal Square PATH trains that run from Newark, NJ, into both Downtown (World Trade Center) and Midtown (33rd Street) Manhattan. In addition, the JSTC is also served by NJ Transit and private bus lines to both north and south New Jersey neighborhoods including all NJ Shore points and Atlantic City. This site also offers easy access to Interstate 78, which is an east-west interstate highway that runs 144 miles from Harrisburg, PA terminating to the east at the Holland Tunnel into Lower Manhattan. Located equidistant between two shopping malls, Hudson Mall and Newport Centre, the location has easy access to the area’s varied retail offerings.Bankruptcy Sale: USBC Southern District of New York (Manhattan). Petition No. 1:23-bk-11831 | In re: 500 SUMMIT AVENUE MAZAL LLC Bid Deadline: April 4 On-Site Inspections: By Appointment Only 500 Summit Avenue, recently appraised as-is for $108,000,000, is a fully approved, mixed-use development site located in the heart of Jersey City, New Jersey. The site’s superb location and flexible zoning allow a developer to construct a mixed-use tower in a rapidly expanding neighborhood. Cleared for residential units with on-site parking and ground floor commercial space, the site promises to be a thriving hub for locals and Manhattan commuters alike. The proposed tower will offer views of Manhattan from a majority of the floors due to the area’s natural elevation. In addition, the site has excellent access to public transportation and is a short 20-minute train ride from Midtown, creating a fast and convenient commuting experience for those working in Manhattan. The site also qualifies for available tax incentives with Jersey City, creating savings for the next investor for years to come.