Halpern Real Estate Ventures Secures $65M Construction Financing For Jersey City Development Site

A development site located at 49 Fisk Street in Jersey City has been acquired by Halpern Real Estate Ventures. The property spans approximately 1.84 acres and is designated for development. The transaction closed on December 14, 2021. The development site has a total of 337 units.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: Not available
• Address: 49 Fisk Street
• Market: Jersey City
• Units: 337
• Acres: 1.84

The construction financing for the acquisition was provided by Bank OZK. The loan amount is $65,000,000 and it is a four-year, floating-rate, non-recourse loan. JLL Capital Markets represented Halpern Real Estate Ventures in the transaction, with Mike Tepedino, Michael Gigliotti, Thomas E. Didio, Jr., Max Custer, and Carlos Silva from JLL Capital Markets serving as brokers.