Updated Jan 6, 2026
Mark DeLillo Of BlueGate Partners Arranges $150 Million Loan For The Devan Multifamily In Jersey City
3 New York Avenue
$150,000,000
Units
336
Asset Type
MultiFamily
Closing
Jan 6, 2026
About this deal
AI
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.
On the Map
$150,000,000
MultiFamily
View full map
Players
Jersey City MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Browse Jersey City multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93