July 3, 2024

Real Estate New Jersey | Third phase of KRE’s Bay 151 rental project in Bayonne more than 80 percent leased

By Joshua Burd |

Kushner Real Estate Group is nearing the full lease-up of a 212-unit apartment property in Bayonne, the third and final phase of a project that was conceived more than a decade ago.

Known as Bay 151, the waterfront complex has transformed part of the former Military Ocean Terminal while capturing the growing demand for luxury rentals in the city. KRE is offering a mix of homes ranging from studio to three-bedroom units, with rents starting from the $2,300s, as it looks to fill the remaining space at the full 625-unit development at Route 440 and Centre Street.

“The Bayonne waterfront continues to be a popular choice for Hudson County renters, and we are proud that Bay 151 is an integral part of the lifestyle package that it offers,” said Jonathan Kushner, president of KRE Group. “Our final phase builds on the luxury experience that has made the community so successful and takes it to the next level, with high-end residences and amenities that are clearly resonating with renters.”

The latest leasing milestone comes as Bay 151, which was designed by Minno & Wasko Architects and Planners, is virtually doubling its outdoor amenity space with the opening of a second pool and sundeck, according to a news release. The pool opened on Memorial Day weekend, joining amenities such as grills, outdoor seating and dining areas, as well as a modern fitness center, coworking spaces, a party room and a golf simulator that opened with the third phase.

Bay 151 also has 10,000 square feet of retail space on a 16-acre property, the news release said. As with the first two buildings, renters at the four-story final phase have access to regular social events and weekly classes by Jersey City-based Lloyd Dickenson Fitness.

They’re also within walking distance of the Hudson-Bergen Light Rail’s 45th Street station, which connects to Jersey City, while the property operates a resident shuttle to and from the Grove Street PATH station. KRE added that the community is a short drive from the entrance of the New Jersey Turnpike, Interstate 78 and The Holland Tunnel.

Nearby retailers include Costco, Starbucks, Lidl, CVS and LA Fitness, while the site provides access to a section of the Hudson River Waterfront Walkway, the news release said. Stephen Gregg Park is about five blocks from Bay 151, offering pickleball, tennis and basketball courts as well as track and field, walking trails, children’s play areas, a dog run and a waterfront promenade with sunset views across nearly 100 acres of parkland.