Winston ApartmentsLyndhurst, NJ
In the aftermath of Hurricane Sandy, many properties in New York and New Jersey, were devastated beyond repair and were empty shells of their previous condition. When the owners of 120 Chubb Avenue in Lyndhurst, NJ, contacted Castle and Bishop Financial to locate an interested buyer, a walk thru of the building was cut short by the presence of black mold from floor to ceiling, requiring complete demolition of the existing 81,000 square foot building.
The site was filled in during the 1970s and a building was erected there in 1979 to house a Rolls Royce Motor Cars facility until 1995 when Daewoo Electronics acquired it. Additionally, a site investigation showed “lead above DEP standard, in the groundwater,” which would require a “soil cap” to be installed as part of a remediation plan and an elevation of the site by one foot above the flood plain.
Castle and Bishop Financial reached out to J.G. Petrucci Company located in Asbury, NJ and Bethlehem, PA, a privately held development and design/build organization with 29 years of experience in the design, development, re-development and acquisition of commercial, industrial, educational, multi-family and healthcare-related properties.
J.G. Petrucci Co, was already building apartments down the street from the environmentally polluted site, so after negotiating a purchase contract contingent on town building approvals, plans were begun for a luxury multifamily, 218-unit complex, known as The Winston.
The Winston consists of a four-story, podium-style building above structured parking, including views of the Manhattan skyline, a courtyard with lounge deck, resident lounge with billiards and arcade games, fitness center with yoga studio, dog run and complimentary shuttle service.