Taurasi Group Secures $121 Million Loan From Madison Realty Capital For South End Lofts In Hoboken

The property involved is a mixed-use asset located at 38 Jackson Street in Hoboken, New Jersey. It includes a 110-unit, nine-story condominium that features 97,000 square feet of retail space and a 141,000-square-foot parking garage. The current state of the condo units shows 30% pre-sold, while the retail space is 85% pre-leased, with a notable tenant being the Hoboken Public Schools early childhood education center secured with a 20-year lease.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $121,000,000
• Lender: Josh Zegen - Madison Realty Capital
• Landlord: Gary Mezzatesta & Nick Petruzzelli - The Taurasi Group
• Address: 38 Jackson Street
• Market: Hoboken
• Condo Units: 110
• Retail Space: 97,000 SF
• Parking Garage: 141,000 SF
• Condo Units Pre-sold: 30%
• Retail Space Pre-leased: 85%

The transaction involved a $121 million inventory loan secured by the Taurasi Group from Madison Realty Capital. Josh Zegen represented Madison Realty Capital in the deal, while the landlords, Gary Mezzatesta and Nick Petruzzelli, represented The Taurasi Group.