Tag Archives: rental

Police confirm St. Georges Ave fire was arson

(Taken about 7 a.m. today)

Rahway police today confirmed that the Jan. 4 fire that destroyed a St. Georges Avenue apartment complex under construction was arson.

“We determined it was an arson within a few days but weren’t prepared at that time to release that information,” Police Chief John Rodger said in response to another of our inquiries. He declined to go into further detail about the investigation. “Other than telling you that it was declared an arson, there isn’t a lot I can discuss about the fire,” he said.

(Taken about 7:30 p.m. today)

The 50-unit development, dubbed Brookside at Rahway, broke ground more than a year ago and was nearly completed, with leasing expected to begin as early as this spring. Instead, demolition of the three-story building started this week and could take as much as a month to complete. Jim Sisto of Fanwood-based United Excavating/Sisto Realty said he plans to rebuild after the structure is demolished down to the foundation and steel.

Blaze rips through apartments under construction

A four-alarm blaze that drew firefighters from many neighboring towns this morning tore through a three-story apartment building that was under construction since early last year.

At least three helicopters hovered overhead this morning, capturing video of the roof fire and some reports indicated reached as far as Manhattan’s West Side Highway. St. Georges Avenue was closed for most of the day from West Hazelwood Avenue and/or West Milton Avenue to West Grand Avenue, with traffic jamming side streets during the morning rush.

This story from Patch.com quotes the fire chief as calling the building “finished” after Tuesday’s fire. Mayor Rick Proctor, who was sworn in Monday night, told MyCentralJersey.com: “I’ve got to figure it’s a total loss.”

We posted an update about the project in October and in August, when Jim Sisto, president of Fanwood-based Sisto Realty, said he expected it would be mostly done by October and completed by the new year. In recent weeks, the building took on a new look, with the dark-colored mansard-type roof. Many of the initial reports called the building a condo complex but it was actually planned as rental apartments. Of the 5o units, 37 were planned as two-bedrooms, with 13 one-bedrooms.

The 5-acre site was a wooded area for years before trees were cleared in summer 2009 to make way for construction. Plans to build there go back even farther though, when the Zoning Board rejected a 60-unit application for the site in March 2003 (.pdf). The builder appealed before 50 units were approved in 2004. The Zoning Board granted extensions each year through September 2009 as the developer awaited approvals from the state departments of environmental protection and transportation (St. Georges/Route 27 being a state highway).

For more photos or video of the blaze, keep an eye on Facebook or our Twitter updates (top of the page on the right).

Short sales at Carriage City Plaza

With foreclosure looming for Carriage City Plaza, one two short sales in the building went on the market two weeks ago within the past month. A check of Realtor.com shows at least four units in the 16-story building on the market by owners.

About 62 of the 222 units were sold since the building opened in 2008. Another 72 leased were through the developer — Carriage City Properties (CCP)/Silcon, Inc. — leaving 88 units unsold or not leased. All 160 units owned by CCP — not the 62 owned by individuals — are expected to go into foreclosure, along with the hotel and retail space on the first three floors.

Among the first 30 or so units that sold in the building, Unit 512 went for $231,250 in September 2008 and at one point was listed for rent at $1,700 per month. The one-bed/one-bath, which appears to have some upgrades, is now on the market for $139,900.Unit 1002, a two-bed/two-bath, closed for $395,250 in December 2008 – two years ago tomorrow, to be precise. It listed on Realtor.com for $199,900 earlier this week and today is $99,000. Base units, sans upgrades, at Carriage City Plaza were starting at about $220,000 during the pre-construction phase in 2006.

Meanwhile, New York City-based Spandrel Property Services was named this week to manage the remaining unsold units being marketed as rentals in Skyview at Carriage City Plaza.

What exactly is a short sale? Wikipedia explains here: “When sale proceeds fall short of the balance owed on the loan, often when a borrower cannot pay the loan on the property but the lender decides selling at a moderate loss is better than pressing the borrower.”Note: This original post was updated Dec. 10 to reflect the 1002 short sale.

St. Georges Avenue apartments take shape

The 50-unit development on St. Georges Avenue has taken shape over the past month, adding the third floor and some curbing within the complex.

Continue reading St. Georges Avenue apartments take shape

St. Georges Avenue apartments update

The snowy winter and wet spring slowed the apartment complex project going up on St. Georges Avenue by at least three months, according to Jim Sisto, president of Westfield-based Sisto Realty, along with some changes with contractors.

Sisto said the 50-unit project should be 80 percent completed by mid-October and “ready to go” by the new year. The 37 two-bedroom units will be about 1,100 square feet and the other 13 one-bedroom units about 800 square feet in the three-story structure.

It was last summer that dozens of trees were cleared on the St. Georges Avenue site to make way for the development. At that time, Sisto anticipated about a year for construction.

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East Grand development begins leasing

Within a year of razing several properties and breaking ground, the former Renaissance at Rahway development is now leasing apartments.

The East Grand Avenue project was referred to as Renaissance at Rahway throughout the planning process but is now called Meridia at Grand, according to banners posted on the five-story building. There are 88 units, 44 one- and two-bedrooms, with parking on the ground floor but originally the plan was for 72 for-sale condos before the Planning Board approved a request two summers ago to change the project.

Occupancy is expected by sometime in August, possibly as early as Aug. 1. There are 11 different floor plans varying in size from almost 800 to 1,200 square feet with rents ranging from $1,250 to $1,800, according to the leasing agent.

West Grand Avenue boasts new 6-Eleven

[twentytwenty][/twentytwenty]

 

 

I’m no trademark attorney but my first impression is that the new 6-Eleven on West Grand Avenue might just be inviting a lawsuit from 7-Eleven. Then again, maybe it’s related to this 24-year-old, Houston, Texas-based company.

Either way, it’s a new convenience store and deli that’s a big improvement aesthetically over the dilapidated property that sat vacant for at least 10 years near the intersection of Irving Street.

The Zoning Board granted several variances about two years ago and the property underwent some renovations that were completed last year. Below is what the property used to look like. The ground floor has about 1,700 square feet of retail space with two two-bedroom rental apartments on the second floor.

Renaissance project taking shape

Another month, another milestone for Renaissance at Rahway on East Grand Avenue.

After breaking ground last fall, the 88-unit complex continues to make progress. The image at left was taken last week.

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Rahway plans to install public art downtown, including sculptures and murals, among other things, so I thought this recent story about public art in and around Summit might be relevant.

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A little late on posting this but: Landmark at Rahway, LLC, the developer of Park Square on Irving Street was fined $85,000 by the Environmental Protection Agency (EPA) for stormwater pollution issues from 2008 and 2009 that have since been corrected.