Axria's largest Bound Brook development — a 342-unit Class-A mixed-use residential community at 25 W Main Street. Seven residential floors of studios, one-bedrooms, and two-bedrooms with ground-floor retail. Construction commences August 2027.
Luxury Lofts at 25 West Main Street is Axria's largest Bound Brook multifamily development and the most complex project in the Bound Brook Portfolio. Situated on 1.3 acres (61,759.36 SF) in the heart of Bound Brook's designated redevelopment zone (Block 6, Lots 8–19), the development will deliver 342 Class-A residential units across seven residential floors (Floors 4–10), anchored by ground-floor retail that contributes to Main Street vibrancy and walkability.
The project brings to life a new design program of 342 units — a significant scale-up from an earlier 75-unit design that was modified to deliver maximum density and community impact appropriate to the site's redevelopment zone designation. The unit mix spans Studios (84 units), One-Bedrooms (202 units), and Two-Bedrooms (56 units) — providing a balanced product offering across the full renter income spectrum.
Construction is scheduled to begin August 2027 and conclude by August 2029 — a 24-month construction program reflecting the building's scale. An 8-month lease-up follows, with full stabilization targeted in Year 3 (2030). The 8-year pro forma (Years 3–10, 2030–2037) shows NOI growing from $2.43M to $4.65M through income escalation and full occupancy.
Axria is seeking $18.04M in equity (31.8% of total cost) to complement $38.68M in construction debt financing. Exit is via sale of the stabilized 342-unit asset to an institutional multifamily buyer — a transaction scale that attracts the deepest pool of institutional capital in New Jersey's multifamily market.
| Floor | Studio | One Bedroom | Two Bedroom | Units / Floor | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 500 SF | 550 SF | 600 SF | 700 SF | 714 SF | 750 SF | 950 SF | 1,020 SF | 1,110 SF | ||
| Floors 1–3 | Lobby · Parking · Retail · Amenities (Non-Residential) | |||||||||
| Floor 4 | 3 | 2 | 7 | 2 | 13 | 13 | 5 | 1 | 2 | 48 |
| Floor 5 | 3 | 2 | 7 | 2 | 14 | 13 | 5 | 1 | 2 | 49 |
| Floor 6 | 3 | 2 | 7 | 2 | 14 | 13 | 5 | 1 | 2 | 49 |
| Floor 7 | 3 | 2 | 7 | 2 | 14 | 13 | 5 | 1 | 2 | 49 |
| Floor 8 | 3 | 2 | 7 | 2 | 14 | 13 | 5 | 1 | 2 | 49 |
| Floor 9 | 3 | 2 | 7 | 2 | 14 | 13 | 5 | 1 | 2 | 49 |
| Floor 10 | 3 | 2 | 7 | 2 | 14 | 13 | 5 | 1 | 2 | 49 |
| Subtotals | 21 | 14 | 49 | 14 | 97 | 91 | 35 | 7 | 14 | 342 |
| Type Total | 84 Studios | 202 One-BR | 56 Two-BR | 342 | ||||||
| Line Item | Y3 — 2030 | Y4 — 2031 | Y5 — 2032 | Y6 — 2033 | Y7 — 2034 | Y8 — 2035 | Y9 — 2036 | Y10 — 2037 |
|---|---|---|---|---|---|---|---|---|
| Effective Gross Revenue | $3,470,000 | $5,200,000 | $5,360,000 | $5,520,000 | $5,680,000 | $5,850,000 | $6,030,000 | $6,210,000 |
| Total Operating Expenses (25%) | ($1,040,000) | ($1,310,000) | ($1,340,000) | ($1,410,000) | ($1,440,000) | ($1,480,000) | ($1,520,000) | ($1,560,000) |
| Net Operating Income | $2,430,000 | $3,890,000 | $4,010,000 | $4,110,000 | $4,240,000 | $4,370,000 | $4,510,000 | $4,650,000 |
Bound Brook Revitalization Momentum
Bound Brook's borough government and Somerset County have been actively investing in the Main Street corridor's transformation. The Bound Brook Redevelopment Plan encompasses much of the Main Street commercial spine, enabling dense mixed-use development on previously underutilized parcels. This creates a government-sponsored tailwind for property values and rental demand as public investment in streetscape, transit, and infrastructure continues.
NJ Transit Raritan Valley Line
Bound Brook station is within walking distance of 25 W Main Street, providing direct Raritan Valley Line service to Newark Penn Station and connections to New York Penn Station. This transit connectivity is a primary demand driver for young professionals who work in Newark or commute to New York — the same demographic that anchors Class-A rental demand in this price point. One-seat ride capability to major employment centers supports strong renter depth.
Scale Advantage: 342 Units
At 342 units, Luxury Lofts achieves a scale that enables institutional operational management — typically only available to communities of 100+ units. This scale also expands the exit buyer universe significantly, as large family offices, open-end core funds, and institutional multifamily platforms specifically seek 200+ unit assets in TOD locations as add-to-portfolio acquisitions. Scale is a core investment thesis advantage.
Coordinated Portfolio Advantage
As the cornerstone of Axria's Bound Brook Portfolio (9 sites total), Luxury Lofts benefits from Axria's coordinated multi-site strategy. Co-development with Times Square Lofts at 38-40 W Main Street enables shared construction resources, coordinated marketing, and portfolio-level lease-up momentum. A single developer controlling multiple proximate assets can create a branded residential district — driving premium rents and institutional buyer interest across all assets.
Axria's Complete Portfolio
Explore all 34 completed projects in Axria's track record, or return to the full active pipeline overview.
Junaid Ahmed — Vice President, Axria · junaidA@axria.com · +1 281 425 9981
Axria Headquarters — 399 Hoes Lane, Piscataway, NJ 08854 · +1 732 809 8000 · info@axria.com