{"id":243808,"date":"2026-05-26T13:11:12","date_gmt":"2026-05-26T13:11:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/243808\/"},"modified":"2026-05-26T13:11:12","modified_gmt":"2026-05-26T13:11:12","slug":"kontos-group-lands-key-approval-moves-closer-to-start-of-80-unit-linden-rental-project-real-estate-nj-2","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/243808\/","title":{"rendered":"Kontos Group lands key approval, moves closer to start of 80-unit Linden rental project \u2013 Real Estate NJ"},"content":{"rendered":"

Veranta by Kontos, a planned 80-unit apartment building at 1700 West Elizabeth Ave. in Linden, recently secured unanimous approval from the city\u2019s planning board. \u2014 Rendering courtesy: The Kontos Group<\/p>\n

By Joshua Burd<\/p>\n

The Kontos Group is advancing a project that would bring 80 new apartments to Linden, seeking to revitalize a site in one of the city\u2019s key commercial corridors.<\/p>\n

The firm recently secured unanimous approval from municipality\u2019s planning board in connection with the development at 1700 West Elizabeth Ave., which includes a former restaurant property and a used car dealership next door. It now hopes to break ground this fall on a building that would take roughly two years to complete, with plans calling for a mix of studio, one-bedroom and two-bedroom homes known as Veranta by Kontos.<\/p>\n

The Kontos Group, which is led by Valentino, Maik and Chris Kontos, is working alongside Matthew Jarmel and Alan Brandies of Jarmel Kizel Architects and Engineers Inc., engineer Victor Vinegra of Harbor Consultants, attorney Stephen Hehl of Javerbaum Wurgaft and Otteau Group, its financial consultant. Kontos Construction\u00a0is serving as general contractor, while the developer has tapped CBRE\u2019s Matthew Pizzolato to source construction and permanent debt.<\/p>\n

According to Kontos Group, the project is in an area in need of redevelopment and will benefit from a 30-year payment in lieu of taxes agreement with the City of Linden. The location is also notable in that it\u2019s within a mile of both the Linden and Rahway train stations.<\/p>\n

The project, meantime, will mark an expansion of a multifamily portfolio that already includes a 57-unit building in Roselle Park. The new five-story building will have four studio, 61 one-bedroom, 15 two-bedroom floorplans, while the fifth floor will be stepped back to accommodate penthouse units and terraces offering views of New York City.<\/p>\n

CBRE: Kontos Group snags $18 million bridge loan for new 57-unit Roselle Park rental project<\/a><\/p>\n


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