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50 Hudson Street

Tishman Speyer Secures $331M Construction Loan From CDPQ For 50 Hudson Street Development
FINANCEDDevelopment Site

Tishman Speyer Secures $331M Construction Loan From CDPQ For 50 Hudson Street Development

50 Hudson Street

$331,000,000

Units

924

Asset Type

Development Site

Closing

Apr 14, 2025

AI

The asset involved in this transaction is a development site located at 50 Hudson Street in Jersey City. Tishman Speyer is developing a 40-story building that will encompass 924 residential units. The project is set to be delivered in 2028 and will include 10,000 square feet of retail space. Additionally, it will share 75,000 square feet of amenities with its sister project at 55 Hudson Street.

Summary of transation details:

  • Property Type: Development Site
  • Transaction Amount: $331,000,000
  • Lender: Charles Emond - CDPQ
  • Landlord: Rob Speyer - Tishman Speyer
  • Loan Type: Construction
  • Market: Jersey City

Key individuals in this transaction include Charles Emond, who represents CDPQ as the lender, and Rob Speyer, serving as the landlord for Tishman Speyer. Their roles are pivotal in facilitating the funding for this significant construction project, contributing to the development landscape in Jersey City.

Players

CDPQ
CDPQLender
CDPQ
CDPQLender

Rob Speyer

Tishman Speyer

Landlord

$4.5B

vol

46 deals

Landlord

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

0.05%

Cash-on-Cash

-0.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93