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Tishman Speyer Secures $300M on Jersey City Resi Tower
Tishman Speyer is set to kick off construction on 55 Hudson Street. The development, gaining Jersey City Planning Board approval in late 2022, secured a $300 million construction loan from Otera Capital.
The 58-story tower will house 1,017 rental apartments with views of New York Harbor and the Manhattan skyline. Residents will access indoor and outdoor amenities spanning 75,000 square feet. At street level, about 60,000 square feet of retail space will cater to the community. Following 55 Hudson, the 48-story 50 Hudson tower will offer similar amenities.
Once complete, the project will feature nearly 2,000 apartments, over 70,000 square feet of retail, and a 32,000-square-foot waterfront plaza. Located near NJ PATH, Light Rail, and ferries to New York, it offers access to Lower Manhattan in a seven-minute boat ride.
- ◦Development
- ◦Financing
