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New York & Tri-State  + New Jersey  + Finance  | 
49 Fisk Street Jersey City rendering

Jersey City Luxury Apartments Land $65M Construction Debt

JLL Capital Markets arranged $65 million in construction financing for 49 Fisk St., a 337-unit, luxury, mid-rise rental apartment project in Jersey City. The team of Mike Tepedino, Michael Gigliotti, Thomas E. Didio, Jr., Max Custer and Carlos Silva worked on behalf of the developer, Halpern Real Estate Ventures, to secure the four-year, floating-rate, non-recourse loan through Bank OZK. 

Located on a 1.84-acre site in Jersey City’s West Side neighborhood, 49 Fisk will redevelop a former industrial building with a six-story apartment building featuring 337 market-rate units and 143 parking spaces. The property is located in one of Jersey City’s newest transformative and gentrifying neighborhoods.    

“Jersey City has been the beneficiary of tremendous post-COVID rental demand for multi-housing,” said Didio. “Bank OZK was quick to recognize this demand resurgence and bid the non-recourse financing aggressively for the borrower.” 

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Inside The Story

JLL’s Didio

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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