JLL Arranges $150M Loan For Luxury Apartment Building In West New York

A luxury 426-unit apartment building in West New York, New Jersey, known as RB3, has secured $150 million in construction financing. The development site, located at 30 Avenue at Port Imperial in the Port Imperial community, is owned by Marshall Tycher of Canoe Brook Development. The property is expected to be completed in Q4 2026 and offers unobstructed views of the Manhattan skyline, along with modern amenities.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $150,000,000
• Market: West New York
• Lender: Northwestern Mutual Life Insurance
• Landlord: Marshall Tycher - Canoe Brook Development
• Brokers: Jim Cadranell, Jon Mikula, Ryan Carroll & Steven Klein - JLL
• Loan Type: Construction Loan
• Loan Terms: Five-year, fixed-rate loan

JLL, with brokers Jim Cadranell, Jon Mikula, Ryan Carroll, and Steven Klein, played a vital role in arranging the $150 million construction financing for RB3. The loan was provided by Northwestern Mutual Life Insurance.