87 Newkirk Street is an 60,000 sq. ft. parcel of land in Jersey City’s Journal Square. The site was zoned for a 65,000 sq. ft. residential project until an easement impaired its development rights. Prior to closing, Synapse held preliminary discussions with municipal authorities, which controlled the site, regarding the release of the easement and was successful in vacating it within 90 days of closing. The parcel was sold in 2015 for 30% profit.