2016 Year in Review: Leah Carr, Margules Properties, Inc.

Leah Carr, Margules Properties, Inc.

Name & Title: Leah Carr, Management Director

Company Name: Margules Properties, Inc.

What was your most notable project, deal, transaction or professional achievement in 2016?

Margules Properties added to our portfolio a six-story residential property with 60-units in the Woodhaven section of Queens and another 9,500 s/f retail/commercial property in the Journal Square section of Jersey City, a block away from the PATH Station.  The Journal Square property is a triangle shaped building, surrounded by three major streets and offers large street frontage providing significant retail exposure.

What project, transaction, market trend or product had the greatest impact on your industry this year?

The continued residential and commercial development of the Journal Square area in Jersey City has had the greatest impact on our portfolio this year. We continue to offer reasonably priced, quality housing stock, close to the PATH and within easy commute to downtown Jersey City and Manhattan.

How will you be supercharging your productivity in 2017?

This year, Margules Properties  has attracted increased interest from large investors due to our deep track record of success. We look forward to taking on a greater role in the redevelopment of the Journal Square neighborhood in Jersey City where we now control over one million square feet of buildable rights and other emerging neighborhoods in the metro area. We are looking to buy more properties and also increase the firm’s holdings in Manhattan, Queens and Brooklyn where we own more than 70  buildings. 

What emerging trends will drive investment and development in 2017? 

As the outer boroughs of NYC and Jersey City, the “sixth borough,” begin to take center stage as emerging and more affordable options, we expect to see an increasing sophistication from residents, retail stores, realtors and investors. We at Margules Properties expect much more interest in properties in those areas in the coming year.