SJP Properties and Claremont Development Announce “The Lucy” in Jersey City

Jersey City, N.J. – September 22, 2025 – SJP Properties, in partnership with Claremont Development and Battery Global Advisors, has announced the development of The Lucy, a 444-unit luxury rental community rising at 619 Grove Street in Jersey City. The project is being developed with equity partner PCCP. Cushman and Wakefield’s Capital Markets team led by John Alascio arranged the joint venture on behalf of SJP and Claremont as well as the financing, with Kennedy Wilson serving as construction lender.

Designed by the award-winning firm Michael Graves Architecture, the 24-story tower will deliver 431 market-rate and 13 affordable apartments alongside an expansive collection of amenities. The design preserves and restores historically significant portions of the site’s original church, rectory, and school, seamlessly integrating them into a modern residential landmark.

The new community follows the successful 2023 completion of a 165-bed transitional housing facility, developed in partnership with the Archdiocese of Newark and Catholic Charities, which marked the first step in reimagining the historic property.

The Lucy will offer:

• Rooftop pool, sky lounge, sundeck with BBQs, and penthouse bar with skyline views
• Resort-style lobby, coworking and conference rooms
• Fitness center, media and game room
• Bell tower speakeasy, hydroponic garden, and multiple lounges with fireplaces
• Coffee bar, Grab & Go market, and dog grooming room
• Shuttle service to the PATH train and ample bicycle storage

Residences, designed by Mary Cook Associates, will feature quartz countertops, premium fixtures, solar shades, and top-brand appliances.

“We are proud to preserve the historic character of this site while creating a modern community that reflects Jersey City’s dynamic growth,” said Steven J. Pozycki, Founder and CEO of SJP Properties. “The result will be a one-of-a-kind living experience with unmatched amenities and design.”

Richard Sciaretta, Managing Partner of Claremont Development, added: “This project continues our work to bring much-needed housing to Jersey City while honoring the neighborhood’s history. We’re excited to deliver a landmark development that blends heritage and modern living. We are proud to have completed the facility for Catholic Charities and are pleased to be partnering with SJP and PCCP on the final phase of the development.”

Construction is being led by KL Masters Construction Company, based in Harrison, New Jersey with construction beginning in fall of 2025.

About SJP Properties

Headquartered in New York City, SJP Properties is a vertically integrated commercial, residential, and industrial real estate owner, developer, investor, asset manager, construction manager and property manager. The expertise of the company’s core in-house team of professionals encompasses the entire development process, from site selection through coordination of tenant move-in for large multi-phase projects, including numerous Class A build-to-suit developments and individual tenant buildouts. Well known for the creation of unparalleled lifestyle-focused developments, SJP is committed to meticulous design and engineering development plans that reflect a keen understanding of market demand. Following successful industrial buildouts in the Tri-state area, SJP is expanding its warehousing portfolio across the Eastern Seaboard, most recently with an approximately seven-million-square-foot industrial development strategically located near the Port of Savannah.

Having sustained an unblemished track record of success, SJP has established relationships with many of the industry’s leading investors and financial institutions, providing unparalleled access to capital. For more information, call 212-335-2200 or visit www.sjpproperties.com.

About Claremont Development

Claremont Development is a real estate firm focused primarily on the ground-up development of multifamily, industrial, and mixed-use properties throughout New Jersey. The firm leverages its in-house expertise and strategic partnerships to navigate all elements of the development and construction process to minimize risk and maximize returns. The firm’s ability to identify, acquire, entitle, design, finance, and construct projects has set Claremont apart from other competitors.

The firm’s core investment strategy focuses on transit-oriented multifamily development opportunities in strong demographic locations, adaptive re-use projects in underutilized urban downtowns, projects that require substantial environmental remediation efforts, and underutilized/off-market properties that can be transitioned into higher-density uses.

Claremont Development was formed in 2019, when it separated from Claremont Construction, a firm in existence since 1954. The uncoupling of Claremont Development and Claremont Construction was a strategic decision to allow principals of both companies the ability to execute on a wide range of deal types in an efficient manner. Claremont Development is responsible for over $2 billion of ground-up development projects.

For more information, visit www.claredev.com

About Battery Global Advisors

Battery Global Advisors (“BGA”) provides customized wealth management solutions within an institutional family office framework. Between the families they advise and the private funds they offer, BGA manages over $7Bn of assets for sophisticated investors around the world. BGA invests opportunistically in real estate and has deployed over $800M in equity capital invested across a diversified portfolio of real estate projects. For more information, please visit www.bga.com.

About PCCP

PCCP is a real estate finance and investment management firm focused on commercial real estate debt and equity investments. PCCP has approximately $25.3 billion in assets under management on behalf of institutional investors as of December 31, 2024.  With offices in New York, San Francisco, Atlanta, and Los Angeles, PCCP has a 27-year track record of providing real estate owners and investors with a broad range of funding options to meet capital requirements. PCCP underwrites the entire capital stack to exploit inefficiencies in the market and provide investors with attractive risk-adjusted returns. Since its inception in 1998, PCCP has managed, raised or invested over $42.9 billion of capital through a series of investment vehicles including private equity funds, separate accounts and joint ventures. PCCP continues to seek investment opportunities with experienced operators seeking fast and reliable capital. Learn more about PCCP at www.pccpllc.com.

About Cushman & Wakefield 

 Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2024, the firm reported revenue of $9.4 billion across its core service lines of Services, Leasing, Capital Markets, Valuation and others. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit www.cushmanwakefield.com.