A luxury apartment development located on Jersey City\u2019s Grove Street has obtained a massive $81 million refinancing deal.<\/p>\n
The refinancing package for One Grove<\/a>, a 200-unit residential community was secured during the summer, according to a statement<\/a> from Cushman & Wakefield <\/a>who arranged the loan. <\/p>\n The five-year, interest-only loan was secured through Societe Generale on behalf of Sing Wang of TKK Capital.<\/p>\n The property, which opened at 215 Grove St. in 2024, features a mix of studio to three-bedroom apartments with high-end finishes and appliances. <\/p>\n Rents start at about $3,000 per month and Greystar<\/a> handles leasing operations at the property.<\/p>\n Approximately 30% of the units include private outdoor spaces, according to the announcement.<\/p>\n Designed by MHS Architecture, One Grove is strategically positioned at the south end of the Grove Street corridor. <\/p>\n The property offers residents amenities including a landscaped rooftop terrace, state-of-the-art fitness center, co-working space, resident lounge, and demonstration kitchen. <\/p>\n The development also features a parking garage and is located near public transportation options including the PATH train and Hudson-Bergen Light Rail.<\/p>\n The property includes furnished short-term rental apartments, providing flexibility for various leasing needs.<\/p>\n The refinancing deal was disclosed on June 24.<\/p>\n Cushman & Wakefield said the transaction highlights both the ongoing demand for well-located, high-quality multifamily properties and the strength of Jersey City\u2019s real estate market.<\/p>\n Brad Domenico, along with Frank Stanislaski and Jack Subers from Cushman & Wakefield\u2019s Equity, Debt & Structured Finance group, advised the borrowers on the transaction. Additional advisory support came from Niko Nicolaou and Ryan Dowd of the firm\u2019s Multifamily Advisory Group.<\/p>\n \u201cOur team was able to leverage our expertise in this sector and market to secure favorable terms for the borrower in a competitive financing environment,\u201d said Brad Domenico of Cushman & Wakefield. <\/p>\n Generative AI was used to produce an initial draft of this story, which was reviewed and edited by NJ Advance Media staff.<\/p>\n If you purchase a product or register for an account through a link on our site, we may receive compensation. By using this site, you consent to our User Agreement<\/a> and agree that your clicks, interactions, and personal information may be collected, recorded, and\/or stored by us and social media and other third-party partners in accordance with our Privacy Policy.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"A luxury apartment development located on Jersey City\u2019s Grove Street has obtained a massive $81 million refinancing deal.…\n","protected":false},"author":3,"featured_media":172560,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5122],"tags":[5229,405,403,5226,5225,5228,5227,67,586,132,5230,68,2969],"class_list":{"0":"post-172559","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york","8":"tag-america","9":"tag-new-york","10":"tag-new-york-city","11":"tag-newyork","12":"tag-newyorkcity","13":"tag-ny","14":"tag-nyc","15":"tag-united-states","16":"tag-united-states-of-america","17":"tag-unitedstates","18":"tag-unitedstatesofamerica","19":"tag-us","20":"tag-usa"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115085633559668436","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/172559","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=172559"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/172559\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/172560"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=172559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=172559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=172559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}