Broad Street Station TOD Acquisition

Deal value: $150,000,000

Acquisition and planned development of a 14-story, mixed-use building directly across from NJ Transit’s Broad Street Station, including 350 residential units (20% affordable), 8,500 sq ft retail, and amenities.

The core investment motivation is to capitalize on transit-oriented development (TOD) trends by acquiring and developing a mixed-use property adjacent to a major NJ Transit hub. The strategic purpose is to leverage proximity to public transit to attract residents and retailers seeking accessibility, while addressing housing demand with a significant affordable component. The timing aligns with increased urbanization, policy support for TOD, and growing demand for walkable, amenity-rich communities.