City of Bayonne – Silklofts
The Maidenform factory in the City of Bayonne was once a symbol of its strong industrial history. At the height of its operations, the factory employed 1,300 employees. In 2009 a new owner decided to transform the closed factory into 85 luxury residential units. With the assistance of local property tax exemptions from the City of Bayonne, the owner was able to open the building to new residents in 2014. The project boasts exposed brick and high ceilings, studios, one-bedroom and two-bedroom units with a courtyard that includes a community pizza oven. MSB worked with the City and the owner to negotiate the terms of a long term tax exemption to help lower the cost of operating the project and to make the project competitive with neighboring markets.
For more information on this project, please contact Joseph P. Baumann, Jr., Member, at (973) 622-1800.