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350 Warren Street

Updated Mar 20, 2026

Christopher Merrill Secures $136 Million Refinance For 366-Unit Modera Lofts In Jersey City With J.P. Morgan Chase
FINANCEDMultiFamily

Christopher Merrill Secures $136 Million Refinance For 366-Unit Modera Lofts In Jersey City With J.P. Morgan Chase

350 Warren Street

$136,000,000

Units

366

Asset Type

MultiFamily

Closing

Mar 19, 2026

About this deal

AI

The property asset involved in this transaction is the Modera Lofts, a multifamily building with 366 units located at 350 Warren Street in Jersey City. The refinancing of this asset was valued at $136 million. The property was converted from a former warehouse in 2016 and is described as transit-oriented and amenity-rich.

Summary of transaction details:

The financing was arranged by Cushman & Wakefield, who played a key role in securing the refinance from J.P. Morgan Chase for Harrison Street Asset Management. Christopher Merrill represents the interests of Harrison Street Asset Management in this transaction.

On the Map

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$136,000,000

MultiFamily

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Players

Alexander Hernandez

Cushman & Wakefield

Broker

$8.7B

vol

32 deals

Broker
J.P. Morgan Chase
J.P. Morgan ChaseLender

Christopher Merrill

Harrison Street

Landlord

$1.7B

vol

16 deals

Landlord

Jersey City MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $371.6K per unit across 366 units on a published $136M (2026).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.12%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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