Mark DeLillo Of BlueGate Partners Arranges $150 Million Loan For The Devan Multifamily In Jersey City

The Devan is a multifamily asset located at 3 New York Avenue in Jersey City, featuring 336 apartment units. The property, which completed construction in 2024, provides a range of unit types from studio to three-bedroom. The Devan includes various amenities such as a fitness center, coworking lounges, a pool courtyard, and a dog run.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $150,000,000
• Landlord: Ursa Development Group & Fields Grade
• Broker: Mark DeLillo - BlueGate Partners
• Market: Jersey City

BlueGate Partners arranged the loan for The Devan, with the lender remaining undisclosed. Mark DeLillo represents BlueGate Partners in this transaction.