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626 Newark Avenue in Jersey City, New Jersey
DevelopmentFinanceNew JerseyNewsNortheast

SCALE Lending Provides $243 Million for Two Buildings in Jersey City, New Jersey

by Channing Hamilton

JERSEY CITY, N.J. — SCALE Lending, the debt financing subsidiary of Slate Property Group, has provided two cross-collateralized loans totaling $243 million for two buildings in Jersey City’s Journal Square neighborhood. The borrower was Namdar Group. Drew Fletcher and Bryan Grover of Greystone Capital Advisors arranged the loans. Firstly, SCALE Lending issued a $160 million construction loan for a 27-story tower located at 626 Newark Avenue. The mixed-use development will offer 576 apartments, as well as 9,915 square feet of street-level retail and 17,747 square feet of office space. The project …

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90 Avenue E in Bayonne, New Jersey
Investment SalesNew JerseyNewsNortheast

CBRE Arranges $6.1 Million Sale of 70-Unit Community in Bayonne, New Jersey

by Channing Hamilton

BAYONNE, N.J. — CBRE has arranged the $6.1 million sale of a 70-unit property at 90 Avenue E in Bayonne, a city that is located on a peninsula between Newark Bay and New York Bay. The project is currently under development and is fully approved with a 20-year PILOT. EOM sold the site to a private developer based in Hudson County. CBRE’s Fahri Ozturk, Richard Gatto and Zach McHale marketed the site and represented EOM in the deal. Hudson Realty represented the buyer. 

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Investment SalesNew JerseyNewsNortheast

The Kislak Co. Brokers $6.8 Million Sale of Ridgedale Commons 

by Channing Hamilton

MORRISTOWN, N.J. ­— The Kislak Co. Inc. has arranged the sale of Ridgedale Commons, a 29-unit development in Morristown. The asset traded hands for $6.8 million. Kislak’s Joseph Keenan represented the seller and procured the buyer in the deal. Both parties requested anonymity. The property is currently under construction, and will ultimately offer a single one-bedroom unit, 27 two-bedroom units and one three-bedroom unit. Four units will be subject to income restrictions.

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Grand Gardens in Jersey City, New Jersey
Investment SalesNew JerseyNewsNortheast

Hudson Atlantic Brokers $2.4 Million Sale of Grand Gardens in Jersey City, New Jersey

by Channing Hamilton

JERSEY CITY, N.J. — Hudson Atlantic has brokered the $2.4 million sale of Grand Gardens, a 16-unit building in the Bergen-Lafayette section of Jersey City. Grand Gardens was built in 1950. The property offers one- and two-bedroom apartments. Hudson Atlantic’s Ben Susskind marketed the asset on behalf of the undisclosed seller, with support from Adam Zweibel. The buyer was also not disclosed.

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Camelot at Toms River in Toms River, New Jersey
FinanceNew JerseyNewsNortheast

JLL Arranges $26.8 Million in Financing for Camelot at Toms River in Toms River, New Jersey

by Channing Hamilton

TOMS RIVER, N.J. — JLL Capital Markets has brokered $26.8 million in financing for Camelot at Toms River, a 128-unit community in Toms River, which is located along the Jersey Shore. JLL worked on behalf of the borrower, Kaplan Cos., to secure the five-year, fixed-rate loan through Nuveen Real Estate. Michael Klein, Matthew Pizzolato and Salvatore Buzzerio led the JLL Capital Markets Debt Advisory team. Camelot at Toms River was built in 2023 and offers one- and two-bedroom units. Amenities include a 2,098-square-foot clubhouse, fitness center, yoga room, pool, barbeque …

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Cornerstone at Montvale in Montvale, New Jersey
DevelopmentNew JerseyNewsNortheast

Walters Completes Development of 25-Unit Cornerstone at Montvale in Montvale, New Jersey

by Channing Hamilton

MONTVALE, N.J. — Walters has finished constructing Cornerstone at Montvale, an income-restricted community in the New York City suburb of Montvale. Cornerstone at Montvale offers 25 units across two buildings. The community is available to households earning at or below 60 percent of the area median income. Rental rates are based on the renter’s gross annual income. Amenities include a fitness room, playground and outdoor areas with seating and gas grills. Residents will also have access to 55 parking spaces and a bike shed to accommodate 18 bicycles.

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Lakeside Residences in Pompton Lakes, New Jersey
Investment SalesNew JerseyNewsNortheast

Hudson Atlantic Realty Sells Lakeside Residences in Pompton Lakes, New Jersey, for $20 Million

by Channing Hamilton

POMPTON LAKES, N.J. — Hudson Atlantic Realty has sold Lakeside Residences, a 52-unit building in Pompton Lakes, approximately 20 miles northwest of Midtown Manhattan. The property was built in 2022 and sold for $20 million. Lakeside Residences offers amenities such as a fitness center, resident lounge, game room and storage space. According to the community’s website, units come in one- and two-bedroom floor plans. Units feature stainless steel appliances, quartz countertops, subway tile backsplashes and vinyl flooring.

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West Side Square in Jersey City, New Jersey
DevelopmentNew JerseyNewsNortheast

West Side Square Development Fund Breaks Ground on 447-Unit Mixed-Use Development in Jersey City, New Jersey

by Channing Hamilton

JERSEY CITY, N.J. — West Side Square Development Fund has begun constructing West Side Square, a mixed-use development located at 66 Broadway in Jersey City. West Side Square will offer 477 apartments, as well as 9,814 square feet of ground-floor retail space. Units will come in studio, one, two and three-bedroom floor plans. Planned amenities include a deck with a swimming pool, grilling stations, outdoor lounge areas, a dog run, fitness center, co-working spaces and a community room for private events. West Side Square Development Fund will oversee the construction …

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Woodmont Way at West Windsor in West Windsor, New Jersey
FinanceNew JerseyNewsNortheast

JLL Brokers Refinancing for 443-Unit Woodmont Way at West Windsor Near Trenton, New Jersey

by Channing Hamilton

WEST WINDSOR, N.J. — JLL Capital Markets has arranged permanent financing for Woodmont Way at West Windsor, a garden-style community in West Windsor, 12 miles northeast of Trenton, New Jersey. The borrower, Woodmont Properties, will use the funds to refinance the property. Thomas Didio, Thomas Didio Jr., Salvatore Buzzerio and Benjamin Morgenthal led the JLL Capital Markets Debt Advisory team, which represented Woodmont Properties in the transaction. Woodmont Way at West Windsor was built in 2022. The property comprises 443 units across 13 buildings. Units come in one-, two- and three-bedroom …

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Investment SalesNew JerseyNewsNortheast

The Kislak Co. Brokers $3 Million Sale of Riverbank Commons Apartments in Trenton, New Jersey

by Channing Hamilton

TRENTON, N.J. — The Kislak Co. Inc. has arranged the sale of Riverbank Commons in Trenton. Barry Waisbrod of Kislak represented the seller, River Bank Rentals LLC, in the transaction. The buyer was an entity doing business as NJ Mercer Investments Realty LLC. The building comprises 30 units across three stories. The unit mix includes three efficiency apartments, 12 one-bedroom units and 15 two-bedroom units.

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