Greystone announced it has arranged a $38,750,000 refinance for Skylar Lofts, a newly constructed 80-unit multifamily property in Jersey City, New Jersey. The debt placement was coordinated by the Greystone Capital Advisors team including Drew Fletcher, Bryan Grover, Jesse Kopecky, and Ryan Cohen.
The transaction refinances Skylar Lofts, a six-story luxury apartment community developed by The Manhattan Building Company in Jersey City's Bates Street Redevelopment Area. The property features 80 market-rate residences, approximately 3,200 square feet of ground-floor retail space, and 80 structured parking spaces. Residents enjoy a robust amenity package including 24-hour concierge service, a rooftop lounge, fitness center, yoga studio, bike storage, and a private shuttle providing convenient access to the PATH train and Downtown Jersey City.
Skylar Lofts is the first phase of a six-phase master redevelopment led by The Manhattan Building Company. Positioned near Downtown Jersey City, Van Vorst Park, and multiple transportation options, the property offers residents seamless connectivity to Manhattan while benefiting from the continued revitalization of one of the region's most dynamic multifamily markets.
"Skylar Lofts represents an exceptional newly developed multifamily asset in one of the country's strongest urban rental markets," said Mr. Fletcher. "We were pleased to secure a refinancing solution that supports the sponsor's long-term business objectives while recognizing the property's premier location, high-quality construction, and strong leasing fundamentals."