RB3 in West New York, New Jersey

JLL Arranges $150 Million Construction Loan for 426-Unit Development Near Manhattan

by Channing Hamilton

WEST NEW YORK, N.J. — JLL has arranged a $150 million loan to facilitate the construction of RB3, a 426-unit development to be located across the Hudson River from Manhattan in West New York. Jon Mikula, Jim Cadranell, Steven Klein and Ryan Carroll of JLL arranged the five-year, fixed-rate loan through Northwestern Mutual. The borrower was Canoe Brook Development.

RB3 will rise 11 stories within the 200-acre Port Imperial master-planned development. The waterfront property will offer studio, one- and two-bedroom units. Planned amenities include a pool, fitness center, clubhouse, private offices and co-working spaces, a virtual reality room, golf simulator, children’s playroom, sky lounge, grilling stations and a pickleball court.

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