CAPRE’s Northern New Jersey & Gold Coast Investment Outlook Preview: Singh Properties’ Vivek Singh Says Jersey City Has Some Work to Do to Reach its Potential

JERSEY CITY, NJ — Mr. Vivek Singh boasts over fifteen years of experience in real estate investment, financing, management, construction and development. As a Member of Sandalwood Holdings, LLC he is involved in the management of an extensive commercial and residential real estate portfolio throughout northern New Jersey. Mr. Singh is also the Executive Vice President of Operations for CVV Construction & Development, LLC where he is responsible for residential and commercial construction. Mr. Singh is a licensed real estate attorney in New York and New Jersey with his own law firm and formerly with the law firms of Gibbons P.C. and Podvey Meanor, P.C. In advance of CAPRE's Northern New Jersey & Gold Coast Investment Outlook, we connected with Vivek to discuss the hottest topics and latest opportunities in Jersey City. CAPRE: Thanks for chatting with us Vivek. Let’s talk about Jersey City. What are you seeing on the ground in terms of activity? Singh: The market for the last four years has been flattening and declining in terms of rent in Hudson county. Vacancy rates and consumer debt have been going up. So we’ve been anticipating a recession. We’ve been trying to make sure we have as few vacancies as possible, making sure our apartments are properly amenitized, and are trying to turn over leases without giving rent increases because there is so much over-supply in the market that tenants are becoming very picky and choosy and much…