Panepinto Properties Acquires $75M Harborside 8/9 Land Parcel

On Dec 10, 2025

Jersey City-based Panepinto Properties has purchased Harborside 8 and 9, a premier 4.2-acre mixed-use land parcel on the Jersey City waterfront from Veris Residential, Inc. for $75 million. The deal, arranged by Cushman & Wakefield (C&W), marks a key step in a plan to develop two high-rises with a combined 1,257 apartments and new amenities for the area.

The property includes two components, according to the brokerage team. One is a fully approved project at Harborside 8 with complete construction drawings in place, permitting immediate development of a 65-story tower with 678 rentals, 8,578 square feet of retail space, a 350-space parking garage and a 40,000-square-foot redesigned public park along the Hudson River.

Meanwhile, Harborside 9 received site plan approval in 2024 for a 57-story, 579-unit building with 14,800 square feet of retail and a 555-space structured garage, according to C&W. Both buildings are designed to deliver extensive indoor and outdoor amenities, waterfront activation and connectivity to the surrounding Harborside campus.

“We are proud to take ownership of Harborside 8 and 9,” said Joseph Panepinto Sr., founder and CEO of Panepinto Properties. “This acquisition reflects my longstanding belief that this formerly industrial waterfront would evolve into a modern, world-class community. Having represented Jersey City in its early redevelopment, helping shape its rising skyline has been a defining part of my life’s work. I look forward to keeping that progress a priority. We thank C&W for its commitment and dedication in helping us complete this deal.”

“Harborside 8 and 9 represent one of the most compelling — and one of the last remaining — large-scale development opportunities on the Jersey City waterfront,” said Ryan Dowd, managing director and co-head of C&W’s Northeast Multifamily Advisory Group. “With full approvals already in place and a growing tenant demand for new apartments, the site is uniquely positioned to deliver meaningful long-term value. We’re pleased to have worked with Veris Residential on this transaction and look forward to seeing Panepinto advance the next phase of the Harborside neighborhood.”

Located less than a quarter-mile from the Exchange Place PATH station, the Harborside 8 and 9 sites provide future residents with direct access to Manhattan’s World Trade Center in four minutes. The deal also completes Veris Residential’s exit from the Harborside complex under a long-running plan to trim and refocus its portfolio after transitioning from the company once known as Mack-Cali Realty Corp.

To access more business news, visit NJB News Now.

Related Articles: