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The Agnes is a transit-oriented multifamily property located on Jersey City’s West Side. At the end of 2021, the 233-unit property hit the 75%-leased mark for its second phase of leasing following a first phase during which an initial 145 residences leased within five months.

On July 6, M&T Realty Capital Corp. and BlueGate Partners announced placing a $63 million permanent loan for the Class A property. Kearny Bank provided the non-recourse, 10-year fixed rate term with a rate that was locked in in the first quarter.

M&T’s John Taylor and Donna Falzarano worked with Mark DeLillo, Marc Schulder, Lee Spiegelman and Felipe Marin of BlueGate Partners to execute the loan.

Located at 132 Yale Ave., The Agnes offers studio, one-, two- and three-bedroom units. In December, Fields Grade Development Principal Greg Russo described the appeal of the property, which the firm developed with Blumberg & Freilich Equities.

“The West Side is broadening its appeal in Jersey City’s rental market by offering affordable luxury apartments in a vibrant urban neighborhood,” he said at the time. “The Agnes has effectively tapped into the large pool of renters who are now turning their attention to this once-hidden residential treasure by offering attractively priced, upscale homes in a well-amenitized building in a location near a dynamic mix of restaurants, retail shops and cafés with great access to downtown Jersey City, Manhattan, and business and entertainment centers heading west.”

Included among The Agnes’ amenities – which cover more than 10,000 square feet – are outdoor courtyards, a pool, fire pits and grilling stations, a fitness center, communal kitchen, resident lounges, bike storage, package concierge and secure parking.

In addition to its traditional living arrangements, The Agnes also features four-bedroom coliving units.

Common announced opening 80 of the home-sharing spaces at the property in January—the first offering of its kind in the city. Located across four floors and 20 apartments, coliving rents were set to begin at 15% less than market rate for a Jersey City studio. Common residents at The Agnes also have access to exclusive events, convenient payment and communication technology, local and national brand perks and more, according to the residential property management company. Coliving suites are fully furnished with all-inclusive rent and weekly cleanings.