JLL Capital Markets led the sales effort for The Morgan at Provost Square, a 417-unit luxury tower in Jersey City

MORRISTOWN, N.J., Oct. 15, 2025 –  JLL Capital Markets announced today that it represented the seller, a joint venture that includes Toll Brothers Apartment Living, in the sales transaction of The Morgan at Provost Square, a 417-unit luxury apartment tower located at 160 Morgan St. in Jersey City's highly sought-after Waterfront submarket. 

Rockpoint, a real estate private equity firm, has purchased the property. JLL also advised the buyer on the acquisition financing. This is the largest multi-housing sales transaction in New Jersey year-to-date.

The 38-story high-rise, built in 2016, spans 365,361 rentable square feet with an average apartment size of 876 square feet. The property is currently 97+% occupied and comprises 100% market-rate units, including studios, one-, two- and three-bedroom residences featuring penthouse units on the top two floors. The building also features approximately 12,700 square feet of retail space and a seven-story parking garage with 372 covered spaces.

The building features resort-style amenities, including a lobby with concierge services, a rooftop pool with Manhattan skyline views, a fitness center, a sky lounge with a private conference room, an outdoor serenity courtyard with a fire pit, a pet spa and dog wash station, secured bike storage and multiple co-working spaces. Apartment features include stainless steel Whirlpool kitchen appliances, espresso cabinets, quartz countertops, Kohler plumbing fixtures, wood-style flooring and full-size GE washer and dryer in all units.

Situated in the heart of the Powerhouse Arts District and just steps from the Grove Street PATH Station, The Morgan at Provost Square offers residents direct access to Manhattan's Financial District in 15 minutes and to Midtown in 23 minutes. The property's strategic location provides proximity to multiple transportation options, including PATH trains, NY Waterway Ferry service and Hudson-Bergen Light Rail.

Additionally, the tower is located within walking distance of numerous dining, shopping and entertainment options, including Whole Foods Market. The building is positioned approximately one mile from Interstate 78 and the Holland Tunnel, providing additional connectivity to the broader New York metropolitan area.

The JLL Capital Markets team was led by Senior Managing Directors Jose Cruz, Michael Oliver and Steve Simonelli, along with Senior Director, Ryan Robertson and Directors Elizabeth DeVesty and Austin Pierce.

"The Morgan at Provost Square presented investors with a unique opportunity to acquire a high-rise apartment tower at a discount to replacement cost with an irreplaceable location," said Cruz. "The property's position adjacent to the Grove Street PATH Station, combined with Jersey City's continued strong rental growth and stable occupancy levels, created compelling investment fundamentals in one of the New York metropolitan area's most dynamic markets."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.