I've gotten my hands on a rendering of
909 New Jersey Avenue, the 238-unit residential tower being developed by JPI on the block currently occupied by the Nexus Gold Club. No official word yet on when construction will begin, I've heard mentions in the past of early 2007, and I've also heard rumors that Nexus will close by the end of 2006. This is also a good time to mention that in late July JPI paid $1.989 million to the
William C. Smith Co. for two lots on this block, totalling a mere 2,873 sq ft of land. (It should also be noted that the official sale of the Nexus land to JPI from current owner Marty Chernoff has not yet happened; in 2005 JPI paid Chernoff $1 million for two lots on the block, and the
Post reported in January that the total sale price for all four of Chernoff's lots [incuding Nexus] will be $8.9 million.)