Once considered a place simply to pass through on the way to Manhattan, New Jersey’s secondlargest municipality is making the transition from a gritty industrial city into one of America’s hottest real estate markets.

“Jersey City is like the actor who worked for 30 years and all of a sudden gets a great role and is nominated for an Academy Award,” says Bob Antonicello, president of Fair Lawn, New Jersey– based GRID Real Estate, a commercial brokerage specializing in redevelopment. “In real estate, the mantra usually is ‘location, location, location.’ For Jersey City, it’s ‘timing, timing, timing.’ ”

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