Madison Realty Capital Originates $97M Loan for Hoboken Mixed-Use Redevelopment 

Madison Realty Capital has granted a $97 million construction loan to the Taurasi Group for the transformation of a 5-story industrial loft building at 38 Jackson Street, Hoboken, New Jersey.  

The redevelopment will yield a 9-story property with 110 luxury residential condominiums, ground-floor retail spanning 50,000 square feet, and a 300-space parking garage. The residences will offer one- to five-bedroom units and amenities, including a fitness center and rooftop pool. 

“The Taurasi Group is an experienced developer of premium housing projects including numerous residential condominiums in Hoboken. Conveniently located directly across the river from New York City, the South End of Hoboken has emerged as a charming and vibrant neighborhood with fast-growing demand for highly amortized, luxury residential offerings,” said Josh Zegen, managing principal and co-founder of Madison Realty Capital. The project is expected to finish by Q3 2025.