The second phase of The Modern, a luxury residential tower in Fort Lee, New Jersey, has been completed. The second phase includes a 47-story glass building that features 405 residential units as well as 150,000 sq ft of indoor and outdoor amenities. The Bozzuto Group will oversee leasing and property management. Rents range from $1,717 for a studio, $2,631 for a one-bedroom, $3,604 for a two-bedroom and $6,466 for a three-bedroom unit. The project was developed by SJP Properties, Northwestern Mutual Life Insurance Co. and PGIM Real Estate.
SJP has also begun construction of a two-acre public park that will be situated between The Modern’s two towers. The park will include water features, a 7,000 sq ft restaurant with indoor and outdoor dining, and landscaped walking paths. SJP will also build a 13,000 sq ft building that will be donated to the borough of Fort Lee to be used to house a public theater and museum.
“Other than the George Washington Bridge, The Modern is the single most significant development to have ever been built in the borough of Fort Lee,” said Fort Lee Mayor Mark Sokolich. “We have waited over 40 years to find the right developer with the vision and wherewithal to transform this once fallow property into the iconic destination that it is today, and we are thrilled to celebrate this latest milestone with SJP Properties.”
