Construction financing worth $9.775 million was recently arranged for One Mallory, a luxury multi-housing development in Jersey City’s West Side neighborhood.
Located at 70 Fisk Street, One Mallory will be a seven-story, 44-unit property containing studio, one and two-bedroom units. With completion earmarked for spring 2024, the property will also feature amenities such as electric car charging stations, bike storage, covered parking for 22 vehicles, and a 1,800-square-foot rooftop deck. The development is ideally situated to access the local area’s transportation network.
The borrower, 70 Fisk, LLC, was represented by JLL Capital Markets, with the JLL Capital Markets Debt Advisory team led by Director Max Custer and Senior Director Thomas E. Didio, Jr. JLL secured a 2.5-year, floating-rate construction loan through Spencer Savings Bank.
“Jersey City’s West Side has shown exciting momentum over the last 24 months or so with several new projects breaking ground or being completed,” said Custer. “One Mallory will undoubtedly be a fantastic addition to this quickly evolving neighborhood.”
