Edge Lofts in Hoboken, New Jersey

JLL Capital Markets Arranges $27 Million in Financing for Edge Lofts in Hoboken, New Jersey

by Channing Hamilton

HOBOKEN, N.J. — JLL Capital Markets has brokered the sale of and negotiated $27 million in financing for Edge Lofts in the New York City suburb of Hoboken. Edge Lofts comprises 69 units across two buildings located at 1405 Clinton and 1405 Adams St. The buildings each rise five stories, and were constructed in 2013 and 2019, respectively. Units come in one-, two- and three-bedroom floor plans. Amenities include a package room, resident lounge with a bar and TV, fitness center and a common terrace with grilling stations.

JLL Capital Markets represented the seller, Bijou Properties, and procured the buyer. The buyer was not disclosed. Additionally, JLL worked on behalf of an institutional borrower to secure the 10-year, fixed-rate loan through a life insurance company.

Jose Cruz, Steve Simonelli, Michael Oliver, Elizabeth DeVesty and Austin Pierce led the JLL Capital Markets Investment Sales and Advisory team representing the seller. Jim Cadranell, Gregory Nalbandian, Salvatore Buzzerio and John Cumming led the JLL Capital Markets Debt Advisory team on behalf of the borrower.

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