KABR Group And Kushner Companies Secure $63 Million Bridge Loan For Mixed-Use Property In Jersey City

The Arts & Powerhouse Building is a 118,660-square-foot mixed-use property located at 130 Bay Street in Jersey City, NJ. This historic warehouse has been redeveloped to accommodate commercial uses and is currently approximately 65% leased.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $63,000,000
• Lender: Evan Bell - Lorimer Capital
• Landlord: Kenneth Pasternak - KABR Group
• Landlord: Laurent Morali - Kushner Companies
• Broker: Drew Fletcher - Greystone
• Broker: Bryan Grover - Greystone
• Broker: Jesse Kopecky - Greystone
• Loan Type: Bridge

KABR Group and Kushner Companies have secured the bridge loan from Lorimer Capital to facilitate tenant improvements, leasing costs, and operations as the asset progresses toward stabilization and permanent financing.