50 Hudson Street

Tishman Speyer has acquired the land beneath 50 and 55 Hudson Street in Jersey City from Goldman Sachs, advancing its development plans. The terms of the deal remain undisclosed. Construction on the larger tower, 55 Hudson, began in December, featuring over 1,000 rental units and expected completion by early 2027. Subsequently, Tishman will commence development on 50 Hudson, projecting more than 900 apartments. Overall, the project encompasses nearly 2,000 units, alongside retail space and a waterfront plaza. Jersey City’s development surge is fueled by rising rents and supportive regulations, with the city approving three times as many housing units per capita compared to New York City.