Greystone has successfully arranged a $38,750,000 refinancing package for Skylar Lofts, a newly constructed multifamily development in New Jersey. The capital markets team at Greystone Capital Advisors coordinated the debt placement transaction. The advisory team responsible for securing the finance deal included Drew Fletcher, Bryan Grover, Jesse Kopecky and Ryan Cohen.

The property is a luxury six-story apartment building situated in the Bates Street Redevelopment Area of Jersey City. Developed by The Manhattan Building Company, the scheme contains 80 market-rate residential units. The asset also includes roughly 3,200 square feet of commercial space on the ground floor alongside 80 dedicated spaces for structured parking.

Residents living in the building have access to a comprehensive package of amenities. The site provides a 24-hour concierge service, a specialised fitness centre, a yoga studio, secure bicycle storage and a communal rooftop lounge. A private commuter shuttle bus service also runs from the property. This transport option gives residents direct access to the local PATH train station and the downtown district of Jersey City.

Skylar Lofts represents the opening phase of a wider six-part master redevelopment scheme managed by The Manhattan Building Company. The complex sits near Downtown Jersey City and Van Vorst Park. This location gives residents transport links to Manhattan while allowing the asset to benefit from the ongoing regeneration of the local urban rental market.

“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.”

The transaction highlights steady institutional investment demand for newly built residential assets that feature robust leasing foundations. The site is positioned to take advantage of the sustained real estate revitalisation occurring within this specific pocket of New Jersey.