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29 Van Reipen Avenue

Namdar Group Secures 358 Million Construction Loan From Affinius Capital Kennedy Wilson Tyko Capital
FINANCEDMultiFamily

Namdar Group Secures 358 Million Construction Loan From Affinius Capital Kennedy Wilson Tyko Capital

29 Van Reipen Avenue & 612 Pavonia Avenue

$358,000,000

Building Size

Asset Type

MultiFamily

Closing

Aug 6, 2025

AI

The asset is a multifamily property in the Jersey City market, located at 29 Van Reipen Avenue and 612 Pavonia Avenue. The financing is a construction loan totaling $358,000,000 for the asset.

Summary of transation details:

Key participants include Namdar Group owners Andrew Namdar and Daniel Namdar as landlords, with Newmark acting as landlord's representative through Nick Scribani, Jordan Roeschlaub and Max Ralby. The financing is arranged by Adi Chugh of Tyko Capital on behalf of the construction lender group, alongside Craig Solomon of Affinius Capital and William McMorrow of Kennedy Wilson.

Players

Nick Scribani

Newmark

Broker

$55.9B

vol

198 deals

Broker
Newmark
NewmarkBrokerage
Adi Chugh

Adi Chugh

TYKO Capital

Lender

$5.9B

vol

24 deals

Lender
Affinius Capital
Affinius CapitalLender

Jersey City MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

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