J Gateway

D22 (OCR) 99 yrs lease commencing from 2012

Imagine stepping out of your front door and being 90 seconds from two MRT lines, a bus interchange, and one of Singapore’s most ambitious second-CBD transformations — all secured at a 99-year leasehold price point that still sits well below the Core Central Region average. That is the proposition at J Gateway, the sole full-residential tower standing in the heart of Jurong Gateway (as of 2026-05), developed by MCL Land and completed in 2016. At 738 units spread across 21- and 39-storey blocks, J Gateway has quietly become the benchmark condo for District 22 buyers who want genuine transport-node convenience without paying Orchard premiums.

URA transaction data shows the development averaging ~S$2,115 psf over the 12 months to April 2026, up from ~S$1,780 psf at TOP in 2016 — an appreciation trajectory of roughly 19% over a decade, modest by CCR standards but respectable for OCR Jurong. Rental demand, underpinned by NTU students, Jurong Island industrial professionals, and expat families drawn to the Jurong Lake District (JLD) ecosystem, has kept gross yields at approximately 3.9–4.0% (as of 2026-05), comfortably above the 3.2% OCR average reported by URA rental contract data. The 183 recorded sales transactions on URA REALIS give a reasonably liquid resale market — thin by mega-development standards but stable.

What makes J Gateway a genuinely interesting review subject in 2026 is not what it is today but what is being built around it: the Jurong Lake District masterplan targeting 100,000 new jobs and 20,000 homes by 2040–2050, a new Jurong Region Line (JRL) station expected to integrate with Jurong East MRT by 2028, and the Cross Island Line Phase 2 set for 2032. For buyers willing to hold a 10–15 year horizon, the tailwind from District 22 Jurong’s urban transformation could be as significant as any PSF figure today.

District 22 ·99 yrs lease commencing from 2012 ·Completed 2016
~$2,115 Avg PSF (12-month)
3.9% Rental yield
738 Total units
Category Ratings
Facilities
6.5
Unit size & layout
5.5
Value for money
7.5
Neighbourhood
9.0
MRT accessibility
9.5
Lease remaining
7.0

Overview & Key Facts

J Gateway is a bold, high-rise statement planted directly above the Jurong East transport interchange — a 738-unit development by MCL Land that was designed by AGA Architects and completed in 2016. The development comprises two towers (Block 2 at 34–38 storeys and Block 6 at 20 storeys) rising from a podium along Gateway Drive in District 22. When it launched in 2013, J Gateway made national headlines as one of the fastest-selling condominiums in Singapore history — all 738 units were snapped up in a single day, with just two stragglers sold the following morning.

That extraordinary launch-day sellout was driven by a thesis that remains relevant today: the government’s plan to transform the Jurong Lake District into Singapore’s second Central Business District. MCL Land priced the development at an average of $1,486 psf in 2013 — ambitious for Jurong at the time, but a bet on future infrastructure that has steadily vindicated early buyers as average psf has climbed to approximately $2,103 in recent transactions.

What makes J Gateway unusual in the OCR landscape is its genuine urban-core character. This is not a suburban retreat with manicured gardens and tranquil pathways. It is a vertical city block designed for connectivity, sitting within walking distance of three major malls, a regional library, a hospital, and an MRT interchange. For buyers who want to live the Jurong transformation story rather than merely speculate on it, J Gateway is the most direct expression of that vision available in the resale market today.

Developer
MCL LAND (GATEWAY) PTE LTD
Tenure
99 yrs lease commencing from 2012
Total units
738
TOP year
2016
District
22 — OCR
Street
GATEWAY DRIVE
Lease remaining
~85 years (of 99)

Location & Connectivity

The location story at J Gateway begins and ends with one extraordinary fact: Jurong East MRT interchange is just 300 metres from the front door. This is not a single-line station — it connects the North-South Line and the East-West Line, and will gain a third connection when the Jurong Region Line opens. From here, Raffles Place is a direct 30-minute ride on the EWL, Orchard is 20 minutes via the NSL, and the future Cross Island Line will further expand connectivity options. For a District 22 address, this level of rail access is essentially unmatched.

Retail convenience is similarly exceptional. Westgate, JEM, and IMM are all within a 5-minute walk, forming one of the largest suburban retail clusters in Singapore. Between them, residents have access to a cinema multiplex, ice-skating rink, Jurong Regional Library, and dozens of F&B options spanning hawker to fine dining. FairPrice Finest and Giant are both nearby for groceries. Ng Teng Fong General Hospital sits directly across the road, providing reassurance for families and older residents.

The school catchment is practical for primary-age families. South View Primary (370m) and Dazhong Primary (420m) are both within comfortable walking distance. CHIJ Our Lady of the Nativity is 850 metres away. For nature and recreation, Jurong Lake Gardens — Singapore’s newest national garden — is a short walk or cycle ride away, offering 90 hectares of curated green space around Jurong Lake.

The CBD2 thesis
The Jurong Lake District masterplan envisions 100,000 new jobs and 20,000 new homes around a car-lite, mixed-use precinct anchored by the Jurong East Integrated Transport Hub. While progress has been slower than initially projected — the cancellation of the KL–Singapore High Speed Rail in 2021 was a notable setback — the fundamentals remain intact. J’Den, launched in 2023 at $2,475 psf, effectively re-priced the neighbourhood and validated the ongoing transformation premium.

Schools & Education

4 primary schools within the 1 km Priority Phase balloting radius.

Nearby Schools
SchoolTypeDistance
South View Primary SchoolprimaryWithin 1 km
Dazhong Primary SchoolprimaryWithin 1 km
Yuhua Primary SchoolprimaryWithin 1 km
CHIJ Our Lady of the NativityprimaryWithin 1 km
Dunearn Secondary SchoolsecondaryWithin 1 km
Jurongville Secondary SchoolsecondaryWithin 1 km
Fuhua Primary Schoolprimary~1.1 km
Huamin Primary Schoolprimary~1.4 km

Facilities

J Gateway’s facilities are competent but constrained by the realities of a compact urban site. The development offers a swimming pool, lap pool, children’s pool, Jacuzzi, tennis court, indoor and outdoor gyms, BBQ areas, function room, meeting room, dining pavilion, and children’s playground. What elevates the proposition is the vertical distribution of amenities — BBQ facilities are spread across three levels (1st, 24th, and 35th floors), with the upper-floor pavilions offering genuinely spectacular panoramic views of the Jurong skyline.

“Awesome condominium with great facilities. BBQ pits are available on 3 different levels. There are 3–4 cocoon swings for photo-taking and chilling with friends during gatherings.”

— Resident review via EdgeProp

The sky terraces at the upper levels are a genuine differentiator. Few OCR developments offer rooftop-level communal spaces with this kind of elevation and vantage point. On clear evenings, residents report views stretching from the CBD skyline to the Jurong Island petrochemical complex, and the natural breeze at 35 storeys is a welcome contrast to the ground-level warmth of Singapore’s west.

That said, the facilities have clear limitations that residents flag consistently. The gym is small relative to 738 units and can feel cramped during peak evening hours. The lap pool is narrower than some residents expected for a development of this scale. These are the trade-offs of an urban, high-density design — land area went to height and connectivity rather than sprawling poolscapes. Buyers expecting a resort-style facilities deck should calibrate their expectations accordingly.


Unit Sizes & Layout

J Gateway’s unit mix skews heavily toward compact configurations: studios and 1-bedroom units make up a significant proportion of the 738-unit count, with 2-bedroom and 3-bedroom units rounding out the range. Unit sizes span from 474 sqft (studio) to approximately 2,024 sqft for the largest layouts. This compact-heavy mix reflects MCL Land’s strategy of targeting young professionals, couples, and investors drawn to the Jurong East connectivity story — and it has proven commercially correct, given the sustained rental demand.

The smaller units are efficient but undeniably tight. Residents describe rooms as compact with limited storage space, particularly in the 1-bedroom and studio layouts where every square foot counts. The saving grace is that layouts are generally regular and avoid the odd-shaped waste spaces that plague some competitors. For the 2- and 3-bedroom units, the proportions are more forgiving — bedrooms can accommodate queen-sized beds, and living areas have enough depth for proper furniture arrangements.

Stack selection matters
Units facing away from Boon Lay Way enjoy quieter conditions and, at higher floors, benefit from genuinely impressive views and natural ventilation. Residents report the development is “pretty windy, which is a nice surprise” at elevation. Boon Lay Way–facing units on lower floors experience road noise from this major arterial — prospective buyers should visit during evening rush hour to assess real-world conditions. Higher-floor units throughout the development command premium prices but deliver meaningfully better living quality through views, breeze, and noise insulation.

One practical concern flagged by multiple residents involves maintenance as the development ages. Some owners have reported defects appearing from the fourth year onwards, with contractors noting that certain issues — particularly around bathroom waterproofing and false ceiling access for water heater replacement — are recurring across multiple units. These are not unusual for developments in this age bracket, but buyers should factor renovation costs into their acquisition budget.

Unit Mix (from transaction data)
BedroomsTransactionsAvg PSFAvg Price
0 BR47$1,945$938,370
1 BR77$1,905$1,173,444
2 BR38$1,855$1,611,202
3 BR14$1,818$1,983,778
4 BR2$1,909$2,789,000
5 BR1$1,458$2,950,000

Pricing & Market Position

Based on 179 recorded transactions, sale prices range from $812,000 to $2,950,000, averaging $1,296,007 (~$2,115 psf).

Rents range from $1,450 to $9,900 per month across 1915 rental transactions. Current rental yield sits at approximately 3.9%.


Price Appreciation

From 2021 to 2026, the average PSF has appreciated by 19.3% (from $1,763 to $2,102 psf).

2024
+3.7%
$2,000 psf
2025
+3.3%
$2,067 psf
2026
+1.7%
$2,102 psf

Neighbourhood Comparison

The competitive landscape in Jurong East has intensified significantly since J Gateway’s completion. J’Den ($2,475 psf, 99-year from 2022) is the most direct new-launch comparator — it sits in the same precinct with a fresh lease and modern finishes, but at an 18% premium over J Gateway’s current psf. Lakegarden Residences ($2,156 psf) and Sora ($2,211 psf) represent similar new-launch alternatives in the district, both offering contemporary designs but without J Gateway’s proven rental track record.

Among resale peers, Westwood Residences ($1,256 psf) offers a lower entry point but sits further from the MRT interchange and lacks the urban convenience that defines J Gateway’s lifestyle proposition. Lakeville ($1,629 psf) provides a middle-ground option with a quieter residential setting along Jurong Lake, though it trades direct MRT adjacency for lakefront views. The comparison reveals J Gateway’s positioning clearly: it commands a premium over older Jurong resale stock because of its transport adjacency, but offers meaningful savings versus the newest launches for buyers willing to accept a 2012-vintage lease and compact layouts.

For investors specifically, J Gateway’s near-4% yield and 1,896 rental transactions make it arguably the strongest rental play in the entire Jurong East precinct. The newer launches will need years to build comparable rental track records, and their higher quantum entry points will likely compress yields. Buyers choosing between J Gateway and J’Den are essentially weighing proven rental performance and lower entry cost against lease freshness and modern finishing — a decision that depends heavily on investment horizon and cash flow priorities.

District 22 Comparables
DevelopmentTenureTOPUnits~Avg PSF
J GATEWAY99 yrs lease commencing from 20122016738$2,115
J'DEN99 yrs lease commencing from 20232023368$2,475
THE LAKEGARDEN RESIDENCES99 yrs lease commencing from 20232023306$2,159
SORA99 years leasehold2024440$2,218
THE LAKESHORE99 yrs lease commencing from 20022007848$1,311
LAKEVILLE99 yrs lease commencing from 20132018696$1,633

Lease Decay Analysis

The 99-year lease runs from 2012, meaning approximately 14 years have already been consumed. Roughly 85 years remain — still comfortably within the range where most banks will offer full financing without restrictions.

Lease Milestones
YearLease remainingImplication
2026 (now)~85 yearsFull bank financing available
2042~69 yearsCPF usage still unrestricted for most buyers
2051~59 yearsApproaching 60-year threshold — CPF limits begin for some
2071~39 yearsSignificant financing restrictions for next buyer
2111ExpiryLease reverts to state

For a buyer purchasing today with a 10-year horizon (exit around 2036), the lease situation is essentially a non-issue — you’d be selling a property with ~75 years remaining, which is still very bankable. The risk profile changes for longer holds.


ShiokNest Scores

Our proprietary scoring system evaluates J GATEWAY across multiple dimensions.

Walkability
55/100
MRT: 25/25, School: 20/20, Hawker: 5/15, Mall: 0/15, Park: 0/10, Supermarket: 0/10, Clinic: 5/5
Investment
72/100
+6.4% YoY ·4.0% yield ·22 txns/yr ·85 yrs left ·0.3 km to MRT ·-13.5% district YoY ·En-bloc 17/100
Profitability
61/100
Win rate: 93 — 41 transaction pairs, 93% profitable, avg +$102,912
En-Bloc Potential
17/100
Verdict: Low
Overall ShiokNest Score
45/100 — composite of walkability, investment, profitability, en-bloc, and market trend factors.

What Residents Say

“Best location if you’re working near Jurong. All amenities from cinema, library, ice skating, and large shopping malls filled with both Asian and Western cuisines.”

— Resident review via EdgeProp

“Pretty windy, which is a nice surprise. A pleasant place to stay and central to town since it’s a direct train to Raffles Place in 30 minutes.”

— Resident review via SG Expats

“Facilities are fairly ok but the gym is small. Perpetually waiting for the lift to arrive — there are only two lifts for 30+ floors in each block.”

— Resident review via EdgeProp

The resident feedback pattern at J Gateway is strikingly consistent across platforms. The positives are almost universally about location: proximity to malls, MRT, and dining options. The development is described as well-lit and nicely maintained, with the swimming pool earning praise for having adequate private space despite the high unit count. Multiple residents highlight the natural wind at higher floors as an unexpected perk of the twin-tower design.

The recurring complaints are equally consistent. Lift waiting times are the single most frequently cited frustration — with only two lifts per block serving 30+ storeys, peak-hour waits can test patience. The gym’s size relative to the resident population is a second common gripe. Security policies draw mixed reactions: some residents appreciate the strictness (no deliveries without someone home), while others find the approach overly rigid and unfriendly to visitors. Road noise from Boon Lay Way affects lower-floor units on that orientation, and several residents note occasional odour concerns when windows are open, likely related to nearby construction activity and heavy traffic.

Best for — MRT-dependent commuters Rental investors targeting yield Young professionals and couples Jurong Lake District believers Small families (2-3 BR units) Work-from-home buyers needing space Families needing large units Buyers seeking resort-style facilities

1. Unmatched transport integration for an OCR condo. J Gateway sits directly adjacent to Jurong East MRT station — an interchange serving both the East-West (EW24) and North-South (NS1) lines — making it one of the most walkable-to-MRT developments in the entire OCR. The commute time to Raffles Place is approximately 28 minutes door-to-door in non-peak hours. The upcoming JRL Jurong East integrated hub, targeted for completion around mid-2028, will add a third rail line and a fully covered bus interchange directly beneath and adjacent to the development (as of 2026-05). No other OCR condo in Singapore’s pipeline can claim this proximity to a triple-line interchange.

2. Jurong Lake District is a URA-gazetted growth node, not speculative hype. The URA Master Plan designates JLD as Singapore’s largest mixed-use development outside the city centre. A White Site at Town Hall Link was released for sale on the 1H 2026 Reserve List — capable of yielding 186,000 sqm of space including 40,000 sqm of Grade A offices and up to 1,200 residential units. Each new office tower within walking distance of J Gateway adds to the pool of potential tenants and buyers. See the URA Master Plan overlay for J Gateway’s precise zoning context.

3. Compelling rental yield for an integrated-node asset. Gross yield of ~3.9–4.0% (as of 2026-05) is notable because most transport-node condos in Singapore trade at yield compression — buyers pay a convenience premium that suppresses yield. J Gateway has avoided this compression so far because it is in OCR rather than CCR/RCR. The tenant base is diversified: NTU and Singapore Polytechnic students, Jurong Island petrochemical and pharmaceutical professionals, expat families in the JLD corridor, and Westgate/IMM retail management staff. ROI modelling at current psf and S$4,000–S$5,500/month rentals produces cash-on-cash returns that compare favourably with RCR alternatives at 30–40% higher entry cost.

4. MCL Land’s track record reduces completion and quality risk. MCL Land (a subsidiary of Hong Kong-listed Jardine Matheson via Hongkong Land) delivered J Gateway in 2016 with well-documented build quality. The developer’s broader Singapore portfolio includes Parc Esta, Margaret Ville, and Leedon Green — all commanding above-segment resale premiums. Facilities at J Gateway include a 50m lap pool, sky gardens, tennis court, and gym across the two towers, adequate for the unit count and well-maintained given the 10-year-old building age (as of 2026).

5. Price psf below comparable Jurong-adjacent launches. The sub-S$2,200 psf average as of early 2026 stands in contrast to new launches in the broader JLD catchment: J’Den (former JCube site) launched in late 2023 at ~S$2,100–S$2,600 psf and Sora (Canal Grove site) in 2024 at ~S$2,100–S$2,500 psf. J Gateway’s resale market effectively offers proven rental income history and immediate move-in availability at price parity or slight discount to nearby new launches — a rare combination. Compare across the District 22 analytics dashboard for live psf data.

1. Lease decay is the single most material risk. At 99 years from 2012, J Gateway has approximately 85 years of lease remaining as of 2026-05 — still above the 30-year bank-financing and CPF-withdrawal thresholds, but the clock is running. Research from SLA leasehold data and academic work on Singapore leasehold depreciation consistently shows that 99-year condos begin to price in lease discount from roughly year 40 onwards. Buyers targeting a 20-year hold should build a lease-decay scenario into their lease-decay calculator before committing. The ~S$2,115 psf entry in 2026 assumes the JLD appreciation story outpaces lease decay — a reasonable but not guaranteed assumption.

2. JRL delay risk: the “2028” promise has already slipped once. The Jurong Region Line Phase 1 was originally targeted for end-2027; LTA announced in March 2026 that opening had been deferred to mid-2028. Construction timelines for the integrated transport hub adjacent to J Gateway involve complex civil works around a live interchange. Buyers pricing in JRL completion as a near-term catalyst should assign probability-weighted timelines rather than treating mid-2028 as certain (as of 2026-05).

3. En-bloc potential is structurally constrained. J Gateway sits on a leasehold site in a gazetted commercial/mixed-use precinct. The government’s JLD masterplan designates the surrounding land for office and mixed-use development — not additional residential plots. This effectively caps en-bloc upside: a successful collective sale would require the buyer to repurpose the site for non-residential uses, which structurally depresses en-bloc valuations versus a site with residential redevelopment potential. Buyers attracted by en-bloc speculation should look elsewhere in D22 or review the GLS Sites map for plots with stronger redevelopment optionality.

4. Unit-type skew creates liquidity variance. J Gateway’s 738 units skew towards 1-bedroom and 2-bedroom configurations, which were optimised for the investor/rental market at launch. This creates asymmetric liquidity: 1BR units transact frequently and price tightly, but 4BR and larger units (rare in the development) are thin markets where a single distressed seller can move the comparable. Buyers expecting to exit a large-format unit within 3–5 years face meaningful bid-ask risk in a softening market.

5. Noise and dust during JRL construction. The integrated transport hub construction directly adjacent to J Gateway is ongoing as of 2026-05 and will continue at least until 2028. Units on lower floors facing the construction site face above-average noise and air particulate exposure for the next 2–3 years. This is a temporary but real quality-of-life consideration for owner-occupiers, particularly families with young children.

[
    {
        "persona": "Young professional couple, dual income, first private upgrade",
        "fit_color": "green",
        "reason": "Sub-S$1.2M entry for a 1BR at one of Singapore's best-connected OCR nodes, with immediate rental comparables if either partner relocates. TDSR typically clears on dual income. JLD growth story adds long-term upside beyond the holding period."
    },
    {
        "persona": "Buy-to-let investor targeting yield above 3.5%",
        "fit_color": "green",
        "reason": "Gross yield of ~3.9% with a diversified tenant base (students, expats, professionals) is structurally resilient. Proximity to NTU and Singapore Polytechnic suppresses vacancy risk. Rental achievability is well-documented across 183 URA transactions."
    },
    {
        "persona": "HDB upgrader, Jurong West or Clementi origin",
        "fit_color": "green",
        "reason": "J Gateway is the most direct private upgrade for Jurong-area HDB upgraders — familiar neighbourhood, shorter commute disruption, and school catchments (Rulang Primary, Jurong Primary) retained. OCR pricing avoids ABSD shock for first private purchase."
    },
    {
        "persona": "Foreign professional on EP, company housing allowance S$4,500-6,000/month",
        "fit_color": "amber",
        "reason": "Strong candidate for the rental pool rather than purchase. If purchasing, ABSD of 60% (as of 2026-05) for foreign nationals dramatically alters the investment case. Fit is high as a tenant; amber as an owner."
    },
    {
        "persona": "En-bloc speculator seeking collective sale upside",
        "fit_color": "red",
        "reason": "JLD masterplan zones the site for mixed commercial/office use — collective sale would require a non-residential buyer and suppresses redevelopment premium. Other D22 options with residential-zoned land offer stronger en-bloc potential."
    },
    {
        "persona": "Retiree seeking low-maintenance pied-à-terre",
        "fit_color": "amber",
        "reason": "Excellent connectivity for medical appointments and shopping (Westgate, IMM 5 minutes away). However, ongoing JRL construction noise 2026-2028 is a significant quality-of-life concern. Consider revisiting post-2028 when construction dust settles."
    }
]

J Gateway occupies a genuinely rare position in the Singapore condo landscape: an OCR development with authentic transport-node convenience, a developer-backed build quality story, and a government-gazetted growth corridor that has now moved from aspiration to active construction. The ~S$2,115 psf average as of 2026-05 is not cheap by absolute standards, but it is broadly fair relative to both new launches in the same catchment and the tangible infrastructure investment being poured into the surrounding 360 hectares of Jurong Lake District.

The bull case rests on two legs: (a) JLD office supply absorbing 100,000 new jobs over the next two decades continuously refreshes the tenant and buyer pool, and (b) the JRL/CRL double-line upgrade — anticipated by 2028 and 2032 respectively — reprices J Gateway from “near one MRT interchange” to “at a triple-line node,” a reclassification that historically commands a 10–15% premium in Singapore’s transit-oriented pricing model. Run an affordability scenario against your current equity position to sense-check entry.

The bear case is narrower but real: lease decay after 2050 creates a structural ceiling on long-term capital appreciation, and the JRL integration has already demonstrated schedule risk. Buyers holding more than 25 years should model the lease-decay drag explicitly rather than relying on JLD appreciation to override it.

Net verdict: Buy with conviction for yield or a 10–15 year capital-appreciation hold; approach cautiously for a 20–25 year freehold-equivalent narrative. Use the lease-decay calculator and commute-time map to verify the specific unit floor and stack before signing. For side-by-side comparison against J’Den, Lakeville, or The Centris, the District 22 analytics dashboard surfaces live psf and yield data in one view (as of 2026-05).

Frequently Asked Questions

How far is J Gateway from Jurong East MRT?
Jurong East MRT interchange is approximately 300 metres from J Gateway — about a 4-minute walk. The station serves both the North-South Line and East-West Line, with the future Jurong Region Line also planned to stop here.
What is the rental yield at J Gateway?
J Gateway achieves a gross rental yield of approximately 3.93%, with an average monthly rent of $4,179 and a median of $4,000. The development has recorded 1,896 rental transactions, indicating deep and sustained tenant demand driven by its exceptional MRT connectivity.
What schools are near J Gateway?
South View Primary School is 370 metres away and Dazhong Primary is 420 metres away, both within comfortable walking distance. CHIJ Our Lady of the Nativity is 850 metres away. Jurong Regional Library, located within the nearby JEM mall, is also a short walk.
How does J Gateway compare to J'Den?
J'Den launched in 2023 at an average of $2,475 psf — an 18% premium over J Gateway's current $2,103 psf. J'Den offers a fresh 99-year lease (from 2022) and modern finishes, while J Gateway provides proven rental demand (1,896 transactions), lower entry quantum, and the same MRT proximity. The choice depends on whether you prioritise lease freshness or rental yield and value.
What are the main complaints from J Gateway residents?
The most common complaints are long lift waiting times (only 2 lifts per block for 30+ storeys), the small gym relative to the number of residents, compact unit sizes with limited storage, road noise from Boon Lay Way for lower-floor units, and strict security policies regarding deliveries and visitors.
Is the Jurong Lake District CBD2 plan still happening?
Yes, but progress has been slower than initially envisioned. The cancellation of the KL–Singapore High Speed Rail in 2021 removed one catalyst, but the core masterplan — including 100,000 new jobs, the Jurong East Integrated Transport Hub, and the Jurong Region Line — remains active. J'Den's successful 2023 launch at $2,475 psf demonstrated ongoing market confidence in the precinct.