The property asset involved is a development site located at 7711 River Road in Edgewater, NJ, encompassing a square footage of 192,285. The asset is intended for the development of a 12-story, 157-unit Class A multifamily rental property, supported by a construction loan of $59 million.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $59,000,000
• Asset Address: 7711 River Road
• Market: Edgewater, NJ
• Loan Type: Construction
• Lender: Robert Schwartz & Steven Jemal - S3 Capital
• Landlord: Arilex Realty - Alexis Pizzuro & Arianne Schreer
• Broker: Benjamin Nevid - Meridian Capital Group

The deal was facilitated by Meridian Capital Group, with Senior Managing Director Benjamin Nevid leading the arrangement. Financing was secured through S3 Capital, represented by Director of Originations Steven Jemal and Co-Founder Robert Schwartz, to support Arilex Realty's vision for luxury development along the Hudson River waterfront.