Ease Capital Extends $32M Financing for NJ Rental 

Ease Capital has extended $32 million in construction takeout financing to AIRN Management for The Station Apartments, a 97-unit, 10-story multifamily property in West New York, NJ. Ease Capital provided a flexible financing solution to retire AIRN’s existing construction loan and stabilize the asset. Barclay Lynch at Ease Capital, structured the two-year, full-term, interest-only, non-recourse debt, while Mark Elletson of Maidstone Advisors facilitated the financing.  

“We are excited to provide senior financing to the team at AIRN who has done a phenomenal job on the construction and lease-up of The Station,” said Charlie Oshman, Co-Founder of Ease Capital. “Ease was able to tailor a flexible financing solution to support AIRN’s business plan to pay off their existing construction loan and fully stabilize the asset.” 

The Station, a class-A multifamily rental property in West New York, comprises 97 residential units and 1 commercial unit. Located just North of Hoboken and Weehawken in North Hudson County. The property features a resident lounge with co-working space, a fitness center and a rooftop. AIRN Management leased up the property in under nine months and has achieved 99% occupancy.