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Benefit Street Partners Provides $210M Loan on Port Imperial Luxury Condos

WHK Waterfront Urban Renewal, LLC launched construction on its luxury waterfront development known as 1800 Avenue at Port Imperial in Weehawken, NJ. Completion of the residential condominium project is expected by summer 2026.

Benefit Street Partners is providing the project’s financing, with an aggregate loan amount of $210 million, bifurcated between a senior loan of $157.5 million and a mezzanine loan of $52.5 million, bringing the total estimated development cost to $313.2 million. Plaza Construction has signed on as general contractor.

Designed by Handel Architects, the 1800 Avenue project will offer 282 luxury residential units for sale. The development will include 45,000 square feet of amenities such as a lounge, spa, fitness center, half-basketball court, multi-media room, kids’ room, game room, library, and co-working space. Outdoor amenities will include a pool, dining and kitchen stations, a sun deck, a fire pit and lounge seating. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Development
  • ◦Financing
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