Cypress Equity Investments

CEI is a real estate investment company comprised of professionals who have been executing real estate investment strategies for the past three decades.

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Rendering Revealed as Ground Breaks on Bayonne’s 354-Unit Avenue G Development

This post was written by Chris Fry and originally published on 8/22/2022 on JerseyDigs.com
Earlier this month, work began on what will be known as Avenue G, a new residential development in Bayonne. Image courtesy of Cypress Equity Investments.

Two companies have officially kicked off an effort in Bayonne that will revitalize a stretch of 22nd Street and images have finally emerged of what the complex will look like when completed.

Earlier this month, work began on what will be known as Avenue G. Plans emerged in April 2020, with the endeavor coming courtesy of Cypress Equity Investments and New York-based Winter Properties.

CEI was the company behind the 180-unit Edge Apartments, which sits directly next to the Avenue G site. Their latest complex was designed by Minno & Wasko Architects and Planners and will revitalize a cluster of vacant properties situated along East 22nd Street.

“As we looked for opportunities in the greater New York/New Jersey region, Bayonne stood out as an optimal blend of a quiet suburban lifestyle with easy access to the high-energy urban centers of Jersey City and Manhattan,” said Alla Sorochinsky, Chief Financial Officer of CEI. “Further, the enthusiastic response we’ve received to Edge led us to capitalize on the opportunity to develop this larger apartment community next door.”

Avenue G rendering. Image courtesy of Cypress Equity Investments.

Avenue G will rise six stories and include a total of 354 apartments that will feature sustainable elements including high-efficiency glass and insulation, EV car charging stations, central ducted HVAC, and smart access controls. The companies tout high-end features at the project including quartz countertops, stainless-steel appliances, in-unit washer and dryers, and expansive walk-in closets.

“Avenue G is an incredible first step for this partnership, and we’re excited to enter an urban market with such great potential for growth,” said Rick H. Singer, President of Winter Properties. “This distinctive combination of modern living set in a quiet suburban setting delivers an attractive alternative to pricier neighborhoods such as Jersey City and Hoboken.”

Image courtesy of Cypress Equity Investments.

Future residents of the complex will enjoy resort-style amenities including a full-service fitness center, two private courtyards with lounge seating, fire pits, outdoor BBQs, and a multipurpose club room with outdoor entertainment spaces. The complex will also provide communal co-working areas and private offices with for those still working from home.

General contractor ARC Building Partners anticipates a 24-month construction timeline at the property, putting Avenue G on track for completion during the second half of 2024.