Effy Namdar's Namdar Group Secures $120M Loan For Multifamily Property In Jersey City

The multifamily property located at 618 Pavonia Avenue in Jersey City, NJ has been involved in a recent transaction. The property consists of 432 units and is part of the market in Jersey City.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $120,000,000
• Date: 03/17/2021
• Lender: SCALE Lending
• Landlord: Effy Namdar - Namdar Group
• Brokers: Jordy Roeschlaub, Dustin Stolly @Newmark; Drew Fletcher, Matthew Hirsch & Bryan Grover, Matthew Klauer - Greystone Capital Advisors

The loan amount associated with this transaction is $120,000,000. The lender involved in the deal is SCALE Lending. Representing the landlord, Effy Namdar from Namdar Group, were brokers Jordy Roeschlaub and Dustin Stolly from Newmark. Additionally, brokers Drew Fletcher, Matthew Hirsch, Bryan Grover, and Matthew Klauer from Greystone Capital Advisors played a role in the transaction.