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:
- Property Type: Multifamily
- Transaction Amount: 358,000,000
- Market: Jersey City
- Addresses: 29 Van Reipen Avenue; 612 Pavonia Avenue
- Lenders: Craig Solomon - Affinius Capital; William McMorrow - Kennedy Wilson; Adi Chugh - Tyko Capital
- Landlord(s): Andrew Namdar; Daniel Namdar - Namdar Group
- Landlord's Representatives: Nick Scribani - Newmark; Jordan Roeschlaub - Newmark; Max Ralby - Newmark
- Date: 08/07/2025
- Loan Type: Construction
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
Jersey City MultiFamily Market Snapshot
Boundary boundary · MultiFamily · 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