JLL helps secure $19 million in financing for 60-unit multi-unit community in Weehawken
JLL Capital Markets announced Monday that it has arranged $19 million in financing for 231WHK, a new 60-unit community in Weehawken.
JLL represented a private sponsor to guarantee the five-year fixed rate loan through Columbia Bank.
231WHK is a LEED Platinum and Energy Star certified building with architectural limestone and a glass facade on the exterior. It offers a unique mix of studio units, one and two bedroom floor plans, as well as retail space on Palisades Avenue. Units include real wood veneer cabinetry, stainless steel appliances, integrated washers and dryers, high efficiency tankless water heaters, and quiet hydronic ducted HVAC units. The property offers two garages with 70 parking spaces, bicycle storage, electric car charging, common room and terrace and resident gym.
Located at 231 32nd St., the property offers easy connectivity to midtown Manhattan by car or public transportation. Residents have access to the Hoboken waterfront, arts and entertainment in Jersey City, and Union City’s many restaurants.
The JLL Capital Markets Debt Advisory team representing the borrower was led by Matthew Pizzolato and Gerard Quinn.
“Even with all the market volatility there has been no lack of interest from the lending community in this luxury multi-unit asset which our client has done a terrific job developing,” Pizzolato said. “Columbia Bank recognized this and we were able to negotiate a five-year fixed rate loan at an attractive interest rate with several years of interest only.”