LeFrak Buys Related Group’s New Multifamily Tower in Fort Lauderdale for $180M

Commercial Observer

05 May 2026

The LeFrak Organization has acquired Related Group’s new waterfront rental tower in Fort Lauderdale, Fla., for $180 million, property records show. The 36-story building, called Harbour at New River, houses 337 apartments on a 1.4-acre site at 401 Southwest First Avenue, facing the New River, a block west of South Andrews Avenue. Northwestern Mutual Life Insurance Company supplied a $100 million acquisition loan.

LeFrak beefs up portfolio with $180M riverfront tower in Fort Lauderdale

The Real Deal

04 May 2026

New York-based LeFrak Organization bought the 36-story, 337-unit Harbour at New River Apartments at 401 Southwest First Avenue from Coconut Grove-based Related Group and New York-based Rabina Properties, according to records and real estate database Vizzda. The buyer financed the deal with a $100 million loan from Northwestern Mutual, with a 2036 maturity date. The purchase breaks down to about $534,000 per apartment.  

Related Group sells Fort Lauderdale apartment tower for $180 million

South Florida Business Journal

04 May 2026

TRG New River, a partnership between Miami-based Related Group and New York-based Rabina Properties, sold the 337 apartments at 401 S.W. 1st Ave. to 10 companies affiliated with New York-based LeFrak Organization.

Restaurant Le Colonial Returning to NYC’s Midtown

New York Post

16 March 2026

When restaurant Le Colonial returns to the city in the summer of 2027 at Vornado- and LeFrak owned 50 W. 57th St., it won’t come a day too soon for the long block between Fifth and Sixth avenues that’s been too long blighted.

Newport marks 40 years with $1M for Jersey City nonprofits

NJBIZ

27 February 2026

Newport is celebrating four decades of transformation and investment along the Jersey City waterfront by giving back to the community.

Newport to mark 40th anniversary with $1M nonprofit grant program

BINJE.com

27 February 2026

Underscoring their long-standing and continued commitment to Jersey City, the Newport Associates Development Company — a partnership of the LeFrak and Simon families — announced Thursday that they will donate $1 million in charitable contributions to 40 Jersey City-based nonprofits.

New York’s Richard LeFrak Has Been Putting On a Clinic in Miami

Commercial Observer

07 May 2025

His 185-acrea SoLe Mia in North Miami aims to recreate some of the successes enjoyed in New Jersey and New York

Italian Luxury Retailer Loro Piana Takes 25K SF at LeFrak’s 40 West 57th Street

Commercial Observer

13 January 2025

Italian luxury fashion retailer Loro Piana bid “arrivederci” to its Fifth Avenue offices and will move into LeFrak’s 40 West 57th Street. Loro Piana, which specializes in textile manufacturing and cashmere, has signed a lease for 25,000 square feet on the entire 21st floor of the 36-story Midtown office building, according to broker CBRE (CBRE). The luxury brand plans to move from its current digs at 711 Fifth Avenue, according to the New York Post, 

LeFrak, Fidelity Investments ink 185,000 sq. ft. lease renewal at Jersey City office tower

Real Estate NJ

15 July 2024

LeFrak has signed a nearly 185,000-square-foot lease renewal with Fidelity Investments, a longtime tenant at one of the developer’s Jersey City office towers. The financial services firm, which is based in Boston, has occupied space at LeFrak’s 499 Washington Blvd. since 2012. It’s among the many tenants at the 14-story, 550,000-square-foot structure in the acclaimed Newport district, where tenants are steps from mass transit and just across the Hudson River from Lower Manhattan. The leasing team included LeFrak’s Meredith Jackness and Ray Kawas and CBRE’s Howard Fiddle, Greg Barkan, Erin Wenzler and Ben Joseph, according to the landlord. CBRE’s Patrick Cavanagh and Matthew Saker represented the tenant.

LeFrak signs 27K sq. ft. of new retail leases in Jersey City’s Newport

The Globe and Mail

11 July 2024

LeFrak, the developer behind the transformation of Jersey City’s Newport, together with Newport Associates Development Co., on Thursday announced that eight new retail leases have been signed within the last few months at the city’s waterfront neighborhood. Totaling nearly 27,000 square feet, new tenants include national boutique recreation studio PingPod; a regional Greek restaurant debuting its first location in Jersey City, Efi’s Gyro; a local staple expanding within the area, Roast’d Coffee; and local businesses opening their first outposts, Blue Anchor Bar and Kitchen, Stylebegin Barbershop and Pawsome pet spa. Also coming in are a New York restaurant opening its first Jersey City location, Dunhuang Food; and a new Mediterranean restaurant and

The Bisby Nears Completion At 30 Park Lane North In Newport, Jersey City

New York Yimby

13 June 2024

Work is nearing completion on The Bisby, a 34-story residential building at 30 Park Lane North in the Newport section of Jersey City, New Jersey. Developed by the LeFrak Organization with interiors designed by Woods Bagot Architects, the structure will yield 385 units in studio to three-bedroom layouts, including many with private balconies. The Bisby will have a variety of amenities, including a two-story coworking space, a fitness center, a golf simulator, and a 33,000-square-foot rooftop deck complete with grills and a pickleball

Introducing Bisby: Jersey City’s Newest 385-Unit High-Rise

Jersey Digs

12 June 2024

A high-rise that has been in the works for almost four years is heading towards the finish line as the latest community to hit Jersey City’s Newport neighborhood has begun their leasing operations. LeFrak has officially announced the name of their development at 30 Park Lane, which was approved in 2021 and topped out construction last year. The complex is to be called Bisby and features a variety of homes spanning studios to four-bedroom penthouses. “Today’s renters are looking for spacious, light-filled homes complemented by curated amenities they’ll actually use,” said Richard Wernick, Managing Director of Residential Leasing for LeFrak.

LeFrak’s Bisby in Newport section of Jersey City offers abundant amenities with pickleball

ROI-NJ

11 June 2024

Leasing has launched at Bisby, a new luxury rental offering within Jersey City’s vibrant Newport neighborhood developed by LeFrak. This launch comes on the heels of the developer’s signing of nearly 27,000 square feet of new retail space in the neighborhood, illustrating the continued commitment to placemaking in the master-planned community 40 years after its founding. “Today’s renters are looking for spacious, light-filled homes complemented by curated amenities they’ll actually use,” Richard Wernick, managing director of residential leasing for LeFrak, said. “Bisby offers the most sought-after amenities — a pickleball court, abundant coworking space, content recording studio and more — all within a thriving community offering vibrant retail, gree

LeFrak signs 27K sq. ft. of new retail leases in Jersey City’s Newport

ROI-NJ

09 May 2024

LeFrak, the developer behind the transformation of Jersey City’s Newport, together with Newport Associates Development Co., on Thursday announced that eight new retail leases have been signed within the last few months at the city’s waterfront neighborhood. Totaling nearly 27,000 square feet, new tenants include national boutique recreation studio PingPod; a regional Greek restaurant debuting its first location in Jersey City, Efi’s Gyro; a local staple expanding within the area, Roast’d Coffee; and local businesses opening their first outposts, Blue Anchor Bar and Kitchen, Stylebegin Barbershop and Pawsome pet spa. Also coming in are a New York restaurant opening its first Jersey City location, Dunhuang Foo

UHealth’s Largest Outpatient Medical Facility Tops Off At SoLé Mia In North Miami

Florida Yimby

22 April 2024

UHealth—University of Miami Health System has announced the topping off of its largest outpatient medical facility, UHealth at SoLé Mia. This facility, addressed as 2111 Sole Mia Way, is part of the 184-acre master-planned community in North Miami, developed by Oleta Partners, a joint venture between developers LeFrak and Turnberry. 

The real estate families of New York: The LeFraks

Crain's New York Business

18 January 2024

The LeFraks and their namesake company, known simply as LeFrak, have been synonymous with middle-class housing in New York for decades thanks in large part to their LeFrak City development in Queens, although they have lately branched out into more luxury-style buildings in markets including Miami, Seattle and Jersey City. The company’s main focus is on office and residential properties, but it also invests in retail and hospitality properties and has investments outside of real estate as well in energy, securities and private businesses.  

Soffer, LeFrak break ground on 30-story Laguna Circle apartments at SoLe Mia

South Florida Business Journal

08 March 2023

This is the fourth apartment tower in this 184-acre project.

Rental Apartments with the Amenities Perfect for Hosting a Game-watching Party

Lux Exposè

29 September 2022

With so many sports to watch, the NFL playoffs, hockey, and basketball, just to name a few, you can find tons of reasons to watch a game with your friends or family. From Battery Park to the Upper West Side to Jersey City, there are rental apartments that offer all the amenities you need for a tailgate and watch party, including outdoor BBQ stations, comfy seating areas and, of course, big-screen TVs.

As summer heats up, see 25 luxury NYC buildings with outdoor pools

City Realty

14 June 2022

Gateway is the first residential development to take shape in Battery Park City, and is surrounded by a private park. Its amenities were designed to make the most of Hudson River views, and include a rooftop terrace, an outdoor pool, an 8,000-square-foot fitness center, a lounge, a party room, and a children’s playroom.

Richard LeFrak On South Florida, New York Affordability and Succession

Commercial Observer

06 June 2022

Affordable luxury: Here's where you can find it in North Miami

Miami Herald

22 November 2021

Villa Solé opened in November and about 28 of its 184 units are already leased...

80-foot Sculpture of a Woman's Head Installed on Hudson River Waterfront

Fox 5 NY

21 October 2021

"Overlooking the Hudson River directly across from Lower Manhattan, Water's Soul depicts the serene face of a young subject holding a finger to her lips in a state of silent contemplation," Gray, the gallery that represents Plensa, said in a press release.

Interview with Jaume Plensa

DesignBloom.com

21 October 2021

The artist's tallest public sculpture to-date

Water's Soul: Dedication, grand opening for 80-foot sculpture in Jersey City

ABC 7

21 October 2021

"Over the course of three decades, Newport has blossomed into a vibrant, diverse community," LeFrak Chairman and CEO Richard LeFrak said. "We are proud to welcome Jaume Plensa's breathtaking sculpture to this one-of-a-kind neighborhood as we continue to establish Newport within the growing art scene taking shape in Jersey City."

Water's Soul: Massive White Sculpture Makes a Statement in New York Harbor

USNews.com

21 October 2021

The snow-white head commands a sweeping view of the river in front of a forest of high-rise buildings in Jersey City's rapidly developing Newport waterfront

The Meaning Behind the New Statue Towering Over New York's Hudson River

Bloomberg

21 October 2021

The massive installation sits on the edge of the Hudson River, in Jersey City, New Jersey, paying tribute to the river and created as a call to protect all water, which Plensa calls “the most public space in the world.”

‘The Beach’ Surpasses 75% Leasing At 180 River Drive In Jersey City

NYYIMBY

14 August 2021

The Beach’ Surpasses 75% Leasing At 180 River Drive In Jersey City

Five Luxury Residential Rentals Putting Design at the Forefront

Gotham

19 July 2021

LeFrak's The Beach reaches 75% leased after just 10 weeks

Return on Investment NJ

13 July 2021

In another example of how the demand for top-level multi-family residences on the Gold Coast have not been lessened by the pandemic... 

LeFrak City to Host 150-Station Electric Vehicle Charging Hub

Commercial Observer

03 June 2021

The installation in Queens will be one of the largest in the Northeast to date

Luxury Jersey City rental The Beach has tons of outdoor space overlooking the skyline

6sqft

03 May 2021

Open Call for Artists

Real Estate NJ

11 February 2021

LeFrak, the developer of Jersey City’s iconic Newport neighborhood, is seeking the help of local artists to adorn a wall inside its newest waterfront apartment tower.

Northern Appeal

Modern Luxury

14 December 2020

Move-in Residences! Five-star Amenities! A private Lagoon! The Shoreline at Solé Mia in North Miami ups the ante on the rental experience

Newport developers donate $100K to children of Jersey City mass shooting victims

NJ.com

18 March 2020

A pair of Jersey City developers have donated $100,000 toward the education of the children of the victims of the mass shooting in December.

The Developer Behind Solé Mia Sees a Bright Future Ahead for Miami.

Miami Herald

15 November 2019

Richard LeFrak was the keynote speaker at the Urban Land Institute Miami’s fall symposium.

Richard LeFrak touts Solé Mia’s progress from landfill to paradise

The Real Deal

14 November 2019

New York developer also offered his insights on tech disruption in real estate and the Miami market’s strengths and weaknesses.

The Only Way to Access This Private Beach is by Renting an Apartment

Departures

12 November 2019

The Only Way to Access This Private Beach is by Renting an Apartment

Departures

12 November 2019

A new luxury development created a secret beach just for its residents.

NYT Real Estate: Renters

New York Times

19 August 2019

Chico, a city dog, wasn’t ready for the suburbs — and neither were they. Jersey City suits them all just fine.

This mini-city could be a ‘game-changer’ for North Miami

Miami Herald

10 January 2019

Solé Mia, the massive 184-acre mini-city headquartered at 15055 Biscayne Blvd., begins leasing its first two apartment buildings on Jan. 14. 

Jersey City’s Newest Luxury Rental, Ellipse Launches

Curbed.com

18 April 2018

A couple of months after Jersey City’s latest luxury rental, Ellipse announced pricing on its rentals, developer LeFrak has launched leasing on the 41-story building’s 381 apartments. In addition,…

Ellipse brings LeFrak full circle in Newport

Real Estate Weekly

09 March 2018

LeFrak’s latest Jersey City high rise is part luxury rental tower, part ocean liner.

Richard LeFrak on CNBC

CNBC

10 November 2017

Richard LeFrak, The LeFrak Organization chairman and CEO, shares his thoughts on the plan to overhaul the current tax code.

1 Hotel South Beach: The 10 Best Hotels in the U.S.

Condé Nast Traveler

17 October 2017

Though you don’t need a passport to visit these hotels, they’ll still transport you worlds away. A refurbished Southern home-away-from-home, a desert culinary oasis,…

Peek inside Ellipse, Jersey City’s ‘elevated’ waterfront rentals

Curbed.com

07 June 2017

If there’s one thing that makes Ellipse stand out among Jersey City’s increasing stock of rentals, it’s the building itself. Named after its oblong shape, the building…

LeFrak Goes Upscale With Its Latest Tower in Jersey City

New York Times

05 May 2017

Standing on a muddy pile of concrete and brick at the edge of a construction site in Jersey City, the developer Richard LeFrak glanced up…

LeFrak bags beauty bigs as Newport continues to transform

REAL ESTATE WEEKLY

25 January 2017

Fashion stalwart Tory Burch and cosmetic giant L’Oréal USA are set to open office locations at Newport in Jersey City, the country’s largest mixed-use waterfront…

The Closing: Richard LeFrak

THE REAL DEAL

26 April 2016

Richard LeFrak is chairman and CEO of the LeFrak Organization, a company started by his great-grandfather, Aaron, in 1905.

LeFrak on High-End Real Estate

BLOOMBERG TV

22 February 2016

Richard LeFrak discusses the impact of market volatility on high-end real estate and looks at the strength of the rental market…

New Development: LeFrak Announces New JC Tower

REAL ESTATE WEEKLY

22 January 2016

The LeFrak Organization is gearing up to launch Ellipse, a circular shaped, 43-story building in the company’s Newport development on the Jersey City waterfront…

LeFrak Rides Wave of Waterfront Development

THE WALL STREET JOURNAL

22 December 2015

Over three decades, the LeFrak family has moved mountains of dirt to transform a 300-acre derelict rail yard on New Jersey’s Hudson River waterfront into…

LeFrak Aiming to Transform North Miami

GLOBE ST

22 November 2015

North Miami is in for a commercial real estate transformation. And Richard LeFrak is one of the masterminds behind it…

CNBC: Richard LeFrak on the Golden Age of Apartments

CNBC

22 November 2015

Interview with Richard LeFrak on CNBC…

An NYC real estate’s “Mount Rushmore” lives up to billing

An NYC real estate’s “Mount Rushmore” lives up to billing THE REAL DEAL

22 November 2015

The lunchtime panel at New York University’s Capital Markets in Real Estate conference this year promised “the Mount Rushmore of New York City real estate,”…

Ahead Of The Deal: 8,000 new units in pipeline east of Biscayne Boulevard in North Miami area

MIAMI HERALD

22 October 2015

Developers want to use cheaper land prices in North Miami-NMB area to build more reasonably priced units….

Groundbreaking held for $4B development in North Miami

WSVN

22 July 2015

The City of North Miami broke ground on a multibillion-dollar development project Thursday…

NYC’s 10 oldest surviving commercial real estate dynasties

BISNOW

22 July 2015

These turn-of-the-century industry titans have their names etched on countless buildings and minds…

Real Estate Titans Team Up to Develop Florida Property

CNBC

22 June 2015

Richard LeFrak, The LeFrak Organization, and Jeffrey Soffer, Turnberry Associates, discuss their development venture in Miami and the impact of a strong dollar on real…

Developers reveal plans, begin construction at Miami site once known as Biscayne Landing

MIAMI HERALD

22 June 2015

Just three months after announcing a new ownership team, developers of a 183-acre site in North Miami revealed new details for the the planned live-work-play…

Billionaire duo Soffer and LeFrak break ground on $4B SoLe Mia project

SOUTH FLORIDA BUSINESS JOURNAL

22 June 2015

The billionaire Soffer and LeFrak families broke ground on Thursday on one of the largest development projects…

$4B SoLē Mia master-planned development unveiled

THE REAL DEAL

22 June 2015

Heralding the start of their $4 billion, 183-acre master-planned community in North Miami that is aimed at revitalizing the long-vacant site of a former landfill,…

$4 Billion SoLeMia Set To Break Ground; Warren Henry Car Dealership Is First Tenant

THE NEXT MIAMI

22 June 2015

Turnberry Associates and the LeFrak Organization are breaking ground today on the project formerly known as Biscayne Landing….

Newport developers donate $100K to children of Jersey City mass shooting victims NJ.com 18 March 2020 A pair of Jersey City developers have donated $100,000 toward the education of the children of the victims of the mass shooting in December. The Develop

CURBED

22 May 2015

The megaproject formerly known as Biscayne Landing has a new set of developers and is being renamed SoLeMia…

Priciest unit to date at 1 Hotel & Homes sells for $5.1M

THE REAL DEAL

22 May 2015

South Beach’s freshly opened 1 Hotel & Homes just saw its priciest condo sale to date: a $5.1 million unit on the 14th floor, sold…  

Dynasties Team Up to Fund Miami Project

THE WALL STREET JOURNAL

22 May 2015

The LeFraks of New York and the Soffers of South Florida, are teaming up on a $4 billion, 183-acre development on a former landfill and…

Keynote Conversation with Richard LeFrak and Donna Shalala

UNIVERSITY OF MIAMI

22 April 2015

Richard LeFrak shares South Florida commercial real estate strategy at the University of Miami Real Estate Impact Conference…  

How Miami Became New York South

GOTHAM MAGAZINE

22 April 2015

How the Magic City became New York South for Manhattan billionaires and investors…

New Developers for Old Biscayne Landing Site

MIAMI HERALD

22 March 2015

A new real estate developer has joined the team trying to bring life to the long-troubled 183-acre Biscayne Landing project in North Miami. Aventura founders…

LeFrak, Sternlicht’s 1 Hotel South Beach to open tomorrow

THE REAL DEAL

22 March 2015

1 Hotel, the 426-room joint venture between Starwood Capital Group’s Barry Sternlicht and developer Richard LeFrak, opens Wednesday…

Samuel LeFrak’s legacy is more than just affordable housing

TIMES LEDGER

22 February 2015

Samuel LeFrak left behind a formidable legacy of affordable housing, pioneering real estate development and philanthropy for generations of New Yorkers…

Pulse of real estate

CNBC

22 February 2015

Richard LeFrak provides a big picture view on the NYC real estate market, multifamily housing, foreign buyers and LeFrak’s big bet on Miami…

Jersey City vies to up its game in office market

THE WALL STREET JOURNAL

22 February 2015

Jersey City has been making the case that it is an up-and-comer in the office-space market, attracting clothiers and publishers as well as building on…

Industry leaders talk Miami real estate

MIAMI HERALD

22 February 2015

Industry leaders gathered in downtown Miami to discuss the state of South Florida’s real estate market…  

5 insights from University of Miami Real Estate Impact Conference

SOUTH FLORIDA BUSINESS JOURNAL

22 February 2015

Many of the biggest names in Miami spoke at the University of Miami’s Real Estate Impact Conference as plenty of major projects were discussed…

Witkoff moving HQ to LeFrak building in Plaza District

THE REAL DEAL

22 November 2014

The Witkoff Group has signed a 10-year, 21,000-square-foot lease in the LeFrak Organization’s 40 West 57th Street…  

SoFla market is on fire, industry bigwigs say

THE REAL DEAL

22 November 2014

Brokers, developers and other key industry players share market insight and provide a snapshot of their firm’s business during The Real Deal’s annual forum and…

LeFrak Looking for `Adult Leadership’ From Washington

BLOOMBERG

22 November 2014

Richard LeFrak talks about the company’s 1Hotel & Homes South Beach hotel-condominium project in Florida, his relationship with New Jersey Governor Chris Christie and what…

My Friends Call Me Johnny: Richard LeFrak

ESQUIRE

22 September 2014

Real estate mogul Richard LeFrak gives Jean Pigozzi a tour of one of his new luxury properties in Miami…

Developers have faith in church site on Hollywood Boulevard

LOS ANGELES TIMES

22 August 2014

Two of the country’s largest developers plan to build a $150-million high-rise apartment complex at Hollywood Boulevard and La Brea Avenue in Hollywood…

Richard LeFrak Sets His Sights on South Beach

HAUTE LIVING

22 April 2014

LeFrak develops beachfront condo-hotel project, 1 Hotel & Homes, in South Beach, Florida…

Richard LeFrak plans big Miami push

THE REAL DEAL

22 March 2014

New York developer makes market debut with 1 Hotel & Homes South Beach…

LeFrak’s pre-built spaces

REAL ESTATE WEEKLY

22 November 2013

The LeFrak organization has announced a run of pre-built office leases at its 34-story tower at 40 West 57th Street…

LeFrak on Real Estate

BLOOMBERG TV

22 September 2013

Richard LeFrak participates in a panel discussion about the outlook for the U.S. housing market and commercial real estate…

Northern Trust Inks Deal

NEW YORK OBSERVER

22 July 2013

The investment management firm took the entire 21st floor…

The LeFrak’s Transition

WALL STREET JOURNAL

22 March 2013

Emperors-in-waiting: Richard LeFrak grooming sons to take over empire…

LeFrak on CNBC

CNBC

22 October 2012

LeFrak: Taxes Going Up No Matter Who Wins Election…

LeFrak is Back

NEW YORK DAILY NEWS

22 September 2012

LeFrak City in Queens Turns 50…

Hang with the LeFrak Family

CNBC

22 June 2012

Richard LeFrak, Harrison LeFrak & Jamie LeFrak on Squak Box…

Best Places to Live in New York

NEW YORK DAILY NEWS

22 May 2012

New York’s top real estate family creates Rego Park’s premier rental…

Jersey City Development Enters Final Phase

NEW YORK TIMES

22 April 2012

Begun in ’86, Newport Enters Final Phase…

In Jersey City, a LeFrak Office Project Awaits a Tenant

NEW YORK TIMES

22 April 2012

LeFrak is ready to break ground again. The company just announced plans for Pier 6…

Richard LeFrak on CNBC

CNBC

22 March 2012

Buy A Home if You Want to Rent It

LeFrak Energy Opens Houston Office

OILANDGASINVESTOR.COM

22 August 2010

LeFrak Energy, the energy division of New York-based LeFrak Organization, has opened an office in Houston devoted to the oil and gas industry…

Control of Stuyvesant Takes Center Stage

WALL STREET JOURNAL

22 June 2010

Creditors and potential buyers are scrambling for control of a massive apartment complex in New York…

Investing In U.S. Farmlands Has Appealing Returns

INSTITUTIONAL INVESTOR MAGAZINE

22 April 2010

People have to eat...

In City Real Estate, Old Clans Are Shrewd Again

NEW YORK TIMES

22 February 2010

At the height of the boom, the Dursts, the Rudins, the Roses, the LeFraks and other members of New York’s royal real estate families…

The 30-Minute Interview with Richard S. LeFrak

NEW YORK TIMES

22 October 2009

Mr. LeFrak, 63, is the chairman and chief executive of the LeFrak Organization…

Starwood Sees Payoff in Patience

WALL STREET JOURNAL

22 October 2009

Corus’s Condo Assets Look Primed to Rebound Someday; FDIC Approves Sale…

Black Stone Minerals Proposes Global Solution

BUSINESS WIRE

22 October 2009

Black Stone Minerals Company, L.P. and certain co-investors including the LeFrak Organization, made a proposal…

Westin Opens in New Jersey with View of New York City

NBC NEWS

22 July 2009

Hoboken, Jersey City facilities lure business travelers with cheaper rates…