{"id":612436,"date":"2026-02-24T09:12:43","date_gmt":"2026-02-24T09:12:43","guid":{"rendered":"https:\/\/www.europesays.com\/us\/612436\/"},"modified":"2026-02-24T09:12:43","modified_gmt":"2026-02-24T09:12:43","slug":"jersey-citys-165-newark-development-snags-35-million-loan","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/612436\/","title":{"rendered":"Jersey City\u2019s 165 Newark Development Snags $35 Million Loan"},"content":{"rendered":"

\"Barcade\"Fencing and permits have gone up at 165 Newark Avenue for a 51-unit development that will partially preserve the existing building. Photo by Chris Fry\/Jersey Digs.<\/p>\n

An endeavor that will partially reuse a historic building while creating an addition has gained a big cash infusion after work finally began on the long-delayed development last year.<\/p>\n

Brokers with CBRE announced they have secured a $35.4 million loan package on behalf of Hopkins Group Management, the developers behind 165 Newark Avenue in Jersey City. The company\u2019s advisory team said the capital sources include a senior construction loan provided by Goodman Capital and mezzanine debt from SteepRock Capital.<\/p>\n<\/p>\n

The package allows Hopkins Group Management to move ahead with the development, which finally broke ground<\/a> in 2025. The project will create 51 total new units of housing as well as 13,904 square feet of retail space alongside the Newark Avenue Pedestrian Plaza.<\/p>\n

\"163The redevelopment as seen from Newark Avenue. Rendering courtesy LWDMR Architects.<\/p>\n

CBRE\u2019s Matthew Pizzolato and Josh Stein arranged the financing and noted that future residents of the seven-story building will be just about a block away from the Grove Street PATH Station.<\/p>\n

\u201cWell-located, transit-oriented multifamily developments like 165 Newark Avenue continue to attract strong interest from the debt capital markets,\u201d Pizzolato said in a statement. \u201cBy structuring a thoughtfully layered capital stack, we were able to deliver a financing solution that allows our client to advance the project with minimal need for additional outside equity.\u201d<\/p>\n

\"BarcadeRendering of the future at 165 Newark Avenue. Credit LWDMR.<\/p>\n

Known locally in recent years as the Barcade building for the bar that had inhabited the ground floor, the redevelopment plan for the property was greenlit<\/a> way back in 2019. Designed by LWDMR Architects, the plan calls for constructing a new development in two phases while retaining the edifice of the historic building along Newark Avenue and the northern part of Barrow Street.<\/p>\n

\"163Approved redevelopment of 163-165 Newark Avenue, Downtown Jersey City. Rendering courtesy LWDMR Architects.<\/p>\n

The development\u2019s first phase will consist of a seven-story building with a penthouse and \u201cground floor commercial mezzanine,\u201d while the second phase involves the construction of a five-story building.<\/p>\n

A timeline for the completion of both phases has not been announced, as this stretch of Newark Avenue has become a bit of a construction zone as of late. A pair of mid-rise developments<\/a> that also include ground-floor retail space are underway at 155 Newark Street and 157 Newark Avenue just down the street.<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"Fencing and permits have gone up at 165 Newark Avenue for a 51-unit development that will partially preserve…\n","protected":false},"author":3,"featured_media":612437,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[5122],"tags":[262713,5229,15833,7236,262714,262715,405,403,5226,5225,5228,5227,262716,67,586,132,5230,68,2969],"class_list":["post-612436","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-165-newark-avenue","tag-america","tag-cbre","tag-downtown","tag-goodman-capital","tag-hopkins-group-management","tag-new-york","tag-new-york-city","tag-newyork","tag-newyorkcity","tag-ny","tag-nyc","tag-steeprock-capital","tag-united-states","tag-united-states-of-america","tag-unitedstates","tag-unitedstatesofamerica","tag-us","tag-usa"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/116124840713389096","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/612436","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=612436"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/612436\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/612437"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=612436"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=612436"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=612436"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}