JLL Capital Markets has arranged $69.5 million in financing for 100 Jane, a 148-unit multifamily property located in the West Village. JLL worked on behalf of the borrower, Rockrose Development LLC, to secure the 10-year, fixed-rate loan through Freddie Mac. JLL Real Estate Capital LLC, a Freddie Mac Optigo Lender, will service the loan.
Located at 100 Jane St., the nine-story property spans approximately 100,000 rentable square feet and is fully occupied. Built in 1996, the asset includes 117 market-rate units, 30 affordable units and one superintendent unit. Community amenities include a landscaped rooftop terrace, fitness center and laundry facility.
The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Directors Geoff Goldstein and Steven Klein and Managing Director Michael Shmuely.
“With no large-scale multifamily product in the West Village submarket under construction or scheduled for delivery in the next five years, 100 Jane is poised to benefit from continued demand in the rental market,” said Goldstein. “The property’s strong in-place occupancy and long-term upside potential generated significant interest from lenders, ultimately resulting in an attractive financing execution for the sponsorship.”
New York City’s multifamily market fundamentals remain exceptionally strong, particularly in Manhattan’s supply-constrained West Village neighborhood, where vacancy remains low at approximately 2.6%, according to JLL Research, amid sustained demand from young professionals and continued population and employment growth.
At the same time, new residential construction starts and building permits across New York City remain near historic lows. These dynamics continue to support strong investor demand for well-located multifamily assets in premier neighborhoods such as the West Village, JLL said.
