Newmark has arranged a $277 million construction loan on behalf of a joint venture between Urby and Rockpoint, for 201 Hudson–by Urby, a 748-unit multifamily development planned on the Jersey City, New Jersey waterfront.
Co-head of Global Debt and Structured Finance Jordan Roeschlaub and Vice Chairman Chris Kramer, Director Holden Witkoff and Analyst Jack Fenton arranged the financing on behalf of the joint venture with Truist.
Located at 201 Hudson Street in Jersey City’s Paulus Hook neighborhood, 201 Hudson – by Urby represents the second phase of Urby’s waterfront residential development. Upon completion, the 69-story tower will deliver 748 market-rate apartments across approximately 528,000 rentable square feet, complemented by approximately 10,000 square feet of ground-floor retail space, resident amenities and views of the Manhattan skyline and New York Harbor.
The financing will fund ongoing construction of the tower, which will feature a mix of studio, one-, two- and three-bedroom residences. Lifestyle-oriented amenities that includes a pool, fitness center, social and coworking spaces, outdoor recreation areas and curated food-and-beverage offerings.
Situated on the Jersey City waterfront, the property offers convenient access to PATH service, NY Waterway ferry routes and major regional transportation networks, providing direct connectivity to Manhattan while benefiting from one of the region’s most dynamic and rapidly growing residential submarkets.
Newmark Co-Head of U.S. Capital Markets Adam Spies, Executive Vice Chairman Adam Doneger and Managing Director Michael Collins also advised Urby and Rockpoint on the joint venture capitalization, which was announced in June.
