Tishman Speyer Secures $300M Construction Loan For 55 Hudson St. Development In Jersey City

Tishman Speyer has secured a $300 million construction loan from Otera Capital for the development of 55 Hudson St., a 58-story tower with over 1,000 rental units on the Jersey City waterfront. The loan will be used to fund the construction of the tower, which is set to begin this month and is expected to be completed in early 2027. The development also includes plans for an additional tower, 50 Hudson, which will bring the total number of apartments to nearly 2,000. The project will also feature over 70,000 square feet of retail space and a 32,000-square-foot waterfront plaza.

Summary of transation details

• Property Type: Development Site
• Transaction Amount: $300,000,000
• Address: 55 Hudson Street & 50 Hudson Street, Jersey City
• Market: Jersey City

The lender for this transaction is Otera Capital, represented by Rana Ghorayeb. Tishman Speyer, represented by Rob Speyer, is the landlord and developer of the property. The construction loan will help finance the development of the 58-story tower and the subsequent 50 Hudson tower. With the loan in place, construction is expected to proceed as planned, with completion scheduled for early 2027.