Updated Jun 29, 2026
Josh Zegen & Samir Tejpaul Of Madison Realty Capital Provide $375 Million Loan For Mixed-Use Development In Jersey City
2859 John F Kennedy Boulevard
$375,000,000
Building Size
—
Asset Type
Mixed-use
Closing
Jun 23, 2026
About this deal
AI
The asset involved in the transaction is a mixed-use property located at 2859 John F Kennedy Boulevard, Jersey City. The loan amount for this property is $375,000,000, categorized as a construction loan.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $375,000,000
- Lender: Josh Zegen & Samir Tejpaul - Madison Realty Capital
- Landlord: Ezra Nasser & Michael Sokoloff - Nasser Freres
- Brokers: Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Jordan Casella, Christopher de Raet & Jack Krentzman - Walker & Dunlop
This transaction involves notable individuals such as the lenders Josh Zegen and Samir Tejpaul, who represent Madison Realty Capital in providing financing for the project. The landlords, Ezra Nasser and Michael Sokoloff, are associated with Nasser Freres, playing a significant role in the deal's execution.
On the Map
$375,000,000
Mixed-use
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Players
Market Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93