Namdar Group Secures $96M Loan For Multifamily Development In Jersey City

A $96,000,000 construction and land loan was secured for a multifamily development project located at 26 Van Reipen Avenue and 626 Newark Avenue in Jersey City. The loan was provided by Scale Lending, with Slate Property Group's Martin Nussbaum involved in the transaction. The asset is owned by the Namdar Group, a prominent landlord in the area. The brokers for the deal were Drew Fletcher and Matthew Hirsch from Greystone.

Summary of Transaction Details:

• Property Type: Multifamily Development
• Transaction Amount: $96,000,000
• Address: 26 Van Reipen Avenue & 626 Newark Avenue, Jersey City
• Lender: Scale Lending
• Landlord: Namdar Group
• Brokers: Drew Fletcher & Matthew Hirsch - Greystone

The key individuals and companies involved in the transaction include Scale Lending, Slate Property Group's Martin Nussbaum, the Namdar Group as the landlord, and the brokers Drew Fletcher and Matthew Hirsch from Greystone. These parties played crucial roles in facilitating the construction and land loan for the multifamily development in Jersey City.