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Halpern Real Estate Ventures Secures $65M Construction Financing For Jersey City Development Site

49 Fisk Street
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This Development Site property located in NJ received a loan of $65,000,000 over 2 years ago. The brokers of the deal were Carlos Silva, Max Custer, Thomas E. Didio, Jr, Michael "Mike" Tepedino, and Michael Gigliotti

A development site located at 49 Fisk Street in Jersey City has been acquired by Halpern Real Estate Ventures. The property spans approximately 1.84 acres and is designated for development. The transaction closed on December 14, 2021. The development site has a total of 337 units.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: Not available
  • Address: 49 Fisk Street
  • Market: Jersey City
  • Units: 337
  • Acres: 1.84

The construction financing for the acquisition was provided by Bank OZK. The loan amount is $65,000,000 and it is a four-year, floating-rate, non-recourse loan. JLL Capital Markets represented Halpern Real Estate Ventures in the transaction, with Mike Tepedino, Michael Gigliotti, Thomas E. Didio, Jr., Max Custer, and Carlos Silva from JLL Capital Markets serving as brokers.

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Deals
  • Location
    49 Fisk Street, Jersey City, NJ 0730549 Fisk Street, Jersey City, NJ 07305
  • Loan Value
    $65,000,000$65,000,000
  • Asset Type
    Development SiteDevelopment Site
  • Parties
    5 Brokers, 1 Agency5 Brokers, 1 Agency

Agents

Carlos Silva

Carlos Silva

Deals3
Financed$112.3M

Max Custer

Max Custer

Deals23
Financed$556.8M

Thomas E. Didio, Jr

Thomas E. Didio, Jr

Deals25
Financed$1.3B

Michael "Mike" Tepedino

Michael "Mike" Tepedino

Deals11
Financed$4.2B

Michael Gigliotti

Michael Gigliotti

Deals13
Financed$2.2B

Agency

JLL

JLL

Agency
Deals5579
Volume$332.6B

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Deal Summary

LOAN IMAGE: Mike Tepedino, Michael Gigliotti, Max Custer & Thomas E. Didio, Jr. DATE: 12/14/2021 ADDRESS: 49 Fisk Street MARKET: Jersey City ASSET TYPE: Development Site ~ UNITS: 337 ~ ACRES: 1.84 LENDER: Bank OZK LANDLORD: Halpern Real Estate Ventures BROKERS: Mike Tepedino, Michael Gigliotti, Thomas E. Didio, Jr., Max Custer & Carlos Silva - JLL Capital Markets LOAN AMOUNT: $65,000,000 LOAN TYPE: Construction Financing LOAN TERMS: four-year, floating-rate, non-recourse loan

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49 Fisk Street

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