(Bloomberg) -- Tishman Speyer bought land beneath apartments it’s developing on the Jersey City waterfront, from Goldman Sachs Group Inc. 

The real estate firm is building two towers at 50 and 55 Hudson St. The project will include nearly 2,000 apartments, retail space and a public plaza connected to the waterfront, according to a statement Monday. Terms of the land purchase weren’t disclosed. 

“This acquisition demonstrates our conviction in the neighborhood as well as in our long-term vision for these two world-class residential towers,” Tishman Speyer Chief Executive Officer Rob Speyer said in the statement. 

A representative for Goldman Sachs declined to comment.

Tishman Speyer started construction in December on 55 Hudson, a 58-story tower with 1,017 rental units, after securing a loan from Otera Capital. The building is expected to be completed in 2027.

The project’s second phase, at 50 Hudson St., will include a 48-story building with 924 apartments, and the riverfront plaza. 

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