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20 May 2010
Nutley, NJ . . . . Leon Cohen, Executive Vice President of CSR Group, announced the award of this valued project by SILKLOFTS,LLC the project developer. The development will create 99 condominium units in what was once the site of a silk factory and later became known as the Maidenform property, named for the company who manufactured ladies’ foundation garments at the site. The 99 units will consist of 61 one bedroom units, 28 two bedroom units and 10 three bedroom units and three ground floor retail units. In addition to an on-site parking garage, space for 102 cars will be provided on open lands adjacent to the building.
The project’s market valuation is nearly 25 million dollars and will yield an increase in net tax revenue to the city of some $400,000. In addition construction jobs will be created as well as post-construction jobs. The project is well situated providing partial views of the new Bayonne Golf Course and the New York City Skyline
