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

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FINANCED
$358,000,000
Max Ralby
Adi Chugh
Jordan (Jordy) Roeschlaub
+ 2

New Jersey

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Development Site
Financed 08/07/2025
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FINANCED

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

29 Van Reipen Avenue & 612 Pavonia Avenue

See Similar Deals
Development Site
Financed 08/07/2025
Max Ralby
Adi Chugh
Jordan (Jordy) Roeschlaub
+ 2
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:Development Site
Transaction Type:Loan

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.

Players

Nick Scribani
Newmark
Nick Scribani
191 deals$55.1B volume(212) 372-2113
BROKER
Max Ralby
Newmark
Max Ralby
74 deals$3.8B volume
BROKER
Jordan (Jordy) Roeschlaub
Newmark
Jordan Roeschlaub
321 deals$96.2B volume
BROKER
Newmark
Newmark
BROKERAGE
Adi Chugh
TYKO Capital
Adi Chugh
23 deals$5.1B volume
LENDER
TYKO Capital
TYKO Capital
LENDER
Igal Namdar
Namdar Realty Group
Igal Namdar
22 deals$1.8B volume
LANDLORD
Namdar Realty Group
Namdar Realty Group
LANDLORD

Details

FINANCED
IMAGE: Adi Chugh, Igal Namdar, Jordan Roeschlaub, Nick Scribani & Max Ralby DATE: 08/07/2025 ADDRESS: 29 Van Reipen Avenue & 612 Pavonia Avenue MARKET: Jersey City ASSET TYPE: Development Site LENDER: Adi Chugh - TYKO Capital LANDLORD: Igal Namdar - Namdar Group (@NamdarLLC) BROKERS: Jordan Roeschlaub (@JordyRoeschlaub), Nick Scribani (@ScribSays) & Max Ralby (@MaxRalby) - Newmark (@Newmark) LOAN AMOUNT: $358,000,000 LOAN TYPE: Construction NOTE: Namdar Group secured $358M in construction financing from Tyko Capital to build two 27-story mixed-use towers with 1,126 units in Jersey City’s Journal Square.The projects at 29 Van Reipen Ave and 612 Pavonia Ave will include over 15,000 SF of retail and office space; Newmark arranged the financing.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$358,000,000.00

Monthly NOI$2,386,666.67
Monthly Debt Service$2,262,803.52
Change in Cash Flow$0.00
Refinance Proceeds$0.00