The new luxury apartment complex in Jersey City is a sign of strong market activity.
Jersey City, New Jersey, July 31, 2025
Kushner Real Estate Group and National Real Estate Advisors secured $255 million in refinancing for the last tower of a luxury apartment complex in Jersey City. This significant deal reflects strong investor confidence in the local multifamily housing market. Additionally, One Grove, another prominent multifamily property, received an $81 million refinancing package, emphasizing the robust demand for high-quality residential spaces amidst ongoing urban development in the area.
The Kushner Real Estate Group and National Real Estate Advisors have secured $255 million in refinancing for the final tower of their luxury apartment complex in Jersey City, marking a significant transaction in the local multifamily housing sector. The loan corresponds to the third and final tower of the development, which is located at 615 Pavonia Ave.
The refinancing deal underscores ongoing investor confidence in Jersey City’s residential real estate market. The arrangement was facilitated by Cushman & Wakefield, a prominent commercial real estate services firm. The loan was provided by Société Générale, a leading international bank. This refinancing not only supports the completion of the luxury apartment complex but also highlights Jersey City’s appeal as a prime location for high-end multifamily developments.
Alongside this deal, another significant refinancing took place involving One Grove, a multifamily property located at 215 Grove St. in Jersey City. TKK Capital obtained an $81 million loan for the property, which was completed in 2024. The financing was arranged by Cushman & Wakefield, with Société Générale again providing the loan. This particular deal involved a five-year, full-term, interest-only loan, tailored to support the property’s operational and investment goals.
One Grove features a diverse mix of studio to three-bedroom floor plans, ranging from 485 to 1,376 square feet. Approximately 30% of the units include private balconies or patios. The property offers a variety of amenities such as a fitness center, clubhouse, rooftop terrace, coworking spaces, resident lounge, demonstration kitchen, and EV charging stations. These features reflect the demand for high-quality rental options in the city.
The financing activity in Jersey City’s multifamily sector aligns with a broader trend of increasing demand. Recent data indicates that multifamily loan originations increased by 39% in the first quarter of 2025 compared to the same period last year, despite a 41% decrease from the previous quarter. This demonstrates resilient investor interest amid market fluctuations.
Additionally, Tishman Speyer has secured a $331 million construction loan for 50 Hudson St., a 924-unit apartment tower planned for Jersey City. The city is projected to experience the most new multifamily housing supply in 2025, further emphasizing its importance as a hub of residential development.
According to Cushman & Wakefield, Jersey City’s real estate market remains strong compared to broader sector uncertainties. The ongoing investment in luxury and multifamily properties indicates sustained confidence among developers and financiers, supported by consistent leasing activity and rising demand for upscale rental units.
This refinancing signifies investor confidence in Jersey City’s luxury residential market and supports the completion of the final tower of a major apartment complex.
The refinancing was arranged by Cushman & Wakefield, with loans provided by Société Générale.
One Grove offers studio to three-bedroom units, with many featuring private balconies, and amenities such as a fitness center, rooftop terrace, coworking spaces, and EV chargers.
The market shows strong activity, with a significant increase in multifamily loan originations and ongoing construction of large-scale apartment towers.
The city is expected to see the most new multifamily units in 2025, indicating continued growth and expansion in its housing sector.
| Feature | Description |
|---|---|
| Financing Volume | $255 million in refinancing for a luxury apartment tower; $81 million for One Grove |
| Major Lenders | Société Générale, Cushman & Wakefield |
| Property Types | Luxury apartments, multifamily housing |
| Development Activity | Ongoing construction of large towers, including 50 Hudson St. with 924 units |
| Market Trend | 39% increase in multifamily loan originations in Q1 2025 |
| Future Supply | Most new multifamily units in 2025 in the city |
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