Jersey City Community Lands $26M Loan

1 min read

JLL Capital Markets arranged the financing for Nest Micro Apartments.

Nest Micro Apartments. Image courtesy of JLL Capital Markets

190 Academy Urban Renewal LLC has secured $25.5 million in financing for the six-story Nest Micro Apartments, a 122-unit luxury community in Jersey City, N.J. JLL Capital Markets arranged the loan through Argentic Investment Management LLC.

Located at 190 Academy St., the property is within 4 miles of downtown Manhattan, with easy access through Holland Tunnel. Cultural and entertainment options are in close proximity, with Loew’s Jersey Theater within less than half a mile and Smush Gallery within walking distance. Dining and retail options are also available in the surrounding area, alongside Sip Avenue and Montgomery Street.

Completed in July 2021, the Class A community offers 122 studio apartments and 1,350 square feet of ground-floor retail space anchored by Flip Sigi, a Filipino inspired taqueria. The units feature stainless steel appliances, transformable furniture with wood-style and tile flooring. Amenities include a fitness center, recreation room, bike storage, laundry facility and rooftop terrace.

190 Academy Urban Renewal LLC was represented in the transaction by Director Max Custer, Senior Directors Michael Oliver and Matthew Pizzolato, as well as Analyst Salvatore Buzzerio with JLL Capital Markets.

Earlier this month, JLL Capital Markets secured a $78 million loan for a 254-unit community in Hackensack, N.J.

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