$15M Loan Closed For Mixed-Use Property At 619 Marin Blvd In Jersey City

A $15,000,000 bridge loan was provided by Emerald Creek Capital in June of 2022 for a 32,700 square foot corner lot located at 619 Marin BLVD in Jersey City, NJ. The property, situated near the Hudson River waterfront and Historic Downtown, spans 275 feet of prime frontage. The sponsor intends to develop a 14-story, 594-unit mixed-use apartment building on the site.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $15,000,000.00
• Address: 619 Marin BLVD, Jersey City, NJ, 07310
• Market: Jersey City

The borrower for this transaction is an LLC whose identity remains undisclosed. Jersey City's prime location, with its easy access to Manhattan via various transportation options, makes it an attractive area for investment in both residential and commercial developments. The Waterfront area, where the property is situated, offers a vibrant mix of amenities, including restaurants, shops, and attractions, making it a desirable location for the planned mixed-use development.