NJ Luxury Condo Project Secures $210M Financing, Breaks Ground
The property is situated along the Hudson River, directly across from New York City.
With $210 million in financing secured, construction has started on 1800 Avenue at Port Imperial, a 282-unit luxury waterfront condominium development in Weehawken, N.J. The project is slated for completion in summer 2026.
WHK Waterfront Urban Renewal received a total of $210 million in construction funding from Benefit Street Partners. The credit-focused alternative asset management firm provided a senior loan totaling $157.5 million and a mezzanine loan totaling 52.5 million to the developers of the $313.2 million project.
Handel Architects designed the project, located within the larger Port Imperial neighborhood. The design features floor-to-ceiling windows and curved edges. The all-glass façade provides panoramic views of the New York City skyline.
Plaza Construction is the general contractor on the project. Christie’s International Real Estate Group is the exclusive selling and marketing agent. Other development team members include DiSimone Consulting Engineering and Thomas Polise Consulting Engineers.
The project dates back to at least February 2021, when an earlier version of the 1800 Avenue development was released by a different development team. The project nearly went into foreclosure before the new team took over the site and began moving the stalled development forward.
The property will include 45,000 square feet of amenities, including a lounge, spa, fitness center, half-basketball court, multi-media room, kids’ room, game room, library and coworking space. Outdoor features include a pool, dining and kitchen stations, sun deck, fire pit and lounge seating.
Situated on the waterfront, the site is within walking distance of the Port Imperial Ferry light railway stations. Manhattan is about 2 miles east and accessible via the nearby Lincoln Tunnel. The neighborhood has 2.5 miles of waterfront residential and commercial developments along the Hudson River.
Expanding Port Imperial
In January, another luxury residential project in Port Imperial received financing for construction. Canoe Brook Development secured a $150 million construction loan from Northwestern Mutual Life Insurance Co. JLL Capital Markets brokered the transaction for the five-year, fixed-rate loan for RB3, a 426-unit luxury community in West New York, N.J.
RB3 is located at 30 Ave. and is slated to be completed in late 2026. The 11-story building will have studio and one- and two-bedroom floorplans. Amenities will also include a pool, fitness center, club room, private wok offices, coworking spaces, sky lounge and a children’s playroom.
