JERSEY CITY, N.J. — JLL has arranged a $72 million loan through Truist Bank on behalf of Alpine Residential for the refinancing of The Hazel, a 201-unit luxury community in Jersey City. The Hazel was developed in two phases. The 114-unit first phase was completed in late 2024, and the 87-unit second phase wrapped in late 2024. The seven-story mid-rise community features 190 market-rate and 11 affordable units in a mix of studio, one- and two-bedroom layouts. Tenants must earn more than 50 percent of area median income (AMI) but no more than 80 percent AMI to qualify for the affordable units.
Amenities include a sky lounge with views of New York Harbor, a rooftop pool, fitness center, coworking spaces and a secured package room. The property also contains approximately 9,588 square feet of commercial space across four suites housing a delicatessen, a fitness tenant, a childcare provider and package service.
JLL Capital Market’s debt advisory team was led by Thomas Didio, Thomas E. Didio Jr., Michael Mataras and Tyler Caricato.