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Josh Zegen Of Madison Realty Capital Secures $90 Million Refinance Loan For Multifamily Development In Clifton

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FINANCED
$90,000,000
Jordan (Jordy) Roeschlaub
Nick Scribani
Josh Zegen
+ 2

New Jersey

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MultiFamily
Financed
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FINANCED

Josh Zegen Of Madison Realty Capital Secures $90 Million Refinance Loan For Multifamily Development In Clifton

691 Clifton Avenue

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MultiFamily
Financed
Jordan (Jordy) Roeschlaub
Nick Scribani
Josh Zegen
+ 2
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Loan

The property asset is a 300-unit multifamily development located at 691 Clifton Avenue in the Clifton market. The asset is currently in lease-up following the completion of its first phase in early 2026. The property secured a refinancing loan of $90 million from RXR.

Summary of transaction details:

The $90 million refinancing loan was negotiated by Newmark, which positioned the transit-oriented project for stabilization near the New Jersey Transit station, approximately 17 miles from Midtown Manhattan.

Players

Nick Scribani
Newmark
Nick Scribani
191 deals$52.4B volume(212) 372-2113
BROKER
Jordan (Jordy) Roeschlaub
Newmark
Jordan Roeschlaub
321 deals$95.7B volume
BROKER
Samuel Speciale
Newmark
Samuel Speciale
6 deals$581.4M volume(949) 754-6323
BROKER
Ricky Braha
Newmark
Ricky Braha
7 deals$2.1B volume(917) 648-9434
BROKER
RXR Realty
RXR Realty
BROKERAGE
RXR Realty
RXR Realty
LENDER
Josh Zegen
Madison Realty Capital
Josh Zegen
41 deals$5.5B volume
LANDLORD

Details

FINANCED
IMAGE: Josh Zegen, Jordan Roeschlaub, Nick Scribani, Ricky Braha & Samuel Speciale DATE: 03/27/2026 ADDRESS: 691 Clifton Avenue MARKET: Clifton ASSET TYPE: Multifamily ~ UNITS: 300 LENDER: RXR LANDLORD: Josh Zegen (@JZegen) - Madison Realty Capital (@MadisonRealtyCapital) BROKERS: Jordan Roeschlaub (@JordyRoeschlaub), Nick Scribani (@ScribSays), Ricky Braha (@RickyBraha) & Samuel Speciale - Newmark (@Newmark) LOAN AMOUNT: $90,000,000 LOAN TYPE: Refinance NOTE: An affiliate of Madison Realty Capital secured a $90M refinancing loan from RXR for the 300-unit Clifton & Company multifamily development, now in lease-up following early 2026 completion of its first phase.Financing was negotiated by Newmark, positioning the transit-oriented project for stabilization near the New Jersey Transit station about 17 miles from Midtown Manhattan.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$90,000,000.00

Monthly NOI$600,000.00
Monthly Debt Service$568,861.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00