JERSEY CITY, N.J. — Panepinto Properties and AJD Construction have secured $306 million in senior non-recourse construction financing and $78 million in preferred equity for the land purchase and vertical construction of Harborside 8, a 678-unit, luxury waterfront development along the Hudson River in Jersey City. JLL’s Capital Markets group arranged the floating-rate senior loan through Kennedy Wilson. JLL also arranged the preferred equity through Affinius Capital. The development partners plan to break ground in the first quarter of 2026 with stabilization estimated for the first quarter of 2030.
The 65-story tower will feature 719,726 square feet of rentable space via studios, one-, two- and three-bedroom apartments. The development will also include 8,578 square feet of ground-floor retail space and 350 parking spaces that will include electric vehicle charging stations, and a 40,000-square-foot redesigned waterfront public park.
The 20,000 square feet of amenity space will include a fitness center, indoor pool, a yoga studio, golf simulator, rooftop terraces, coworking rooms and a wine bar.
JLL Capital Market’s team representing the borrower was led by Thomas Didio, Thomas E. Didio Jr., Ryan Robertson, Gerard Quinn and John Cumming.