Newmark Arranges $277M Loan for Urby/Rockpoint JV on Jersey City Apartments
Newmark arranged a $277-million construction loan on behalf of a joint venture between Urby and Rockpoint, for 201 Hudson – by Urby, a 748-unit multifamily development planned on the Jersey City waterfront. Co-head of Global Debt & Structured Finance Jordan Roeschlaub and vice chairman Chris Kramer, director Holden Witkoff and analyst Jack Fenton arranged the financing with Truist.
The financing will fund ongoing construction of the tower, which will feature a mix of studio, one-, two- and three-bedroom residences. The development will also include a pool, fitness center, social and coworking spaces, outdoor recreation areas and curated food-and-beverage offerings among its amenities.
Located at 201 Hudson St. in Jersey City’s Paulus Hook neighborhood, 201 Hudson – by Urby represents the second phase of Urby’s waterfront residential development. Upon completion, the 69-story tower will deliver 748 market-rate apartments across approximately 528,000 rentable square feet, complemented by approximately 10,000 square feet of ground-floor retail space, extensive resident amenities and views of the Manhattan skyline and New York Harbor.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout