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29 Van Reipen Avenue

Updated Sep 15, 2025

Namdar Group Secures $358 Million Construction Loan From Tyko Capital For Development In Jersey City
FINANCEDDevelopment Site

Namdar Group Secures $358 Million Construction Loan From Tyko Capital For Development In Jersey City

29 Van Reipen Avenue & 612 Pavonia Avenue

$358,000,000

Units

1,126

Asset Type

Development Site

Closing

Aug 7, 2025

About this deal

AI

The asset involved in this transaction comprises a development site located at 29 Van Reipen Avenue and 612 Pavonia Avenue in Jersey City. The site is designated for the construction of two 27-story mixed-use towers featuring a total of 1,126 residential units, along with over 15,000 square feet of retail and office space.

Summary of transaction details:

Namdar Group has secured construction financing amounting to $358 million from Tyko Capital specifically for this project. Newmark, comprising the team of brokers, was instrumental in arranging the financing for the development of these towers in Jersey City’s Journal Square.

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$358,000,000

Development Site

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Players

Nick Scribani

Newmark

Broker

$59B

vol

208 deals

Broker
Newmark
NewmarkBrokerage
Adi Chugh

Adi Chugh

TYKO Capital

Lender

$6.6B

vol

25 deals

Lender
TYKO Capital
TYKO CapitalLender
Igal Namdar

Igal Namdar

Namdar Realty Group

Landlord

$2.2B

vol

25 deals

Landlord
Namdar Realty Group
Namdar Realty GroupLandlord

Jersey City Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.04%

Cash-on-Cash

-0.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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