Cole Schotz Represents Lightstone Capital in $42.7 Million Bridge Loan for Mixed-Use Jersey City Building

July 6, 2020Attorneys: Wendy M. Berger, Jennifer Y. Chung, Rab N. Nalavala and Danielle M. Pasquariello
Cole Schotz P.C. advised Lightstone Capital in connection with a $42.7 million bridge loan for MRK, a 15-story mixed-use building located in Jersey City, New Jersey.

The loan made to Namdar Group will refinance construction loans for the multifamily and office property located at 97 Newkirk St. in the Journal Square neighborhood. The luxury, 132-unit residential building also features 23,000 square feet of commercial space along with a range of amenities including a gym, yoga room and a rooftop terrace and lounge.

The loan provided by Lightstone Capital, the real estate debt platform for Lightstone Group, will give Namdar flexible capital as they move through the lease-up process.

The Cole Schotz team included members Rab Nalavala, Danielle Pasquariello and Wendy Berger, and associate Jennifer Chung.



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