Weehawken multifamily property secures $19M refinancing

Jessica Perry//August 9, 2022

231 WHK at 231 32nd St. in Weehawken boasts a striking façade featuring limestone and glass. - JLL — 231 WHK boasts a striking façade featuring limestone and glass. – JLL

A new multifamily building in Weehawken has secured $19 million in financing.

JLL Capital Markets announced it arranged the five-year, fixed rate loan through Columbia Bank for the 60-unit 231WHK community in Weekhawken on behalf of a private developer.

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Located at 231 32nd St., 231WHK is a LEED Platinum and Energy Star-certified building with a mix of studio, one- and two-bedroom floorplans. Residences include real wood veneer cabinetry, stainless steel appliances, in-unit washers and dryers, high-efficiency tankless hot water heaters and quiet hydronic-ducted HVAC units. There are two parking garages with 70 parking spots, bike storage and electric vehicle charging. The building also offers a common room, terrace and gym.

It includes a retail component along Palisades Avenue, as well.

“Even with all the market volatility, there was no shortage of interest from the lending community for this luxury multi-housing asset that our client did a tremendous job developing,” said Senior Director Matthew Pizzolato, who led the Capital Markets Debt Advisory team representing the borrower along with Gerard Quinn. “Columbia Bank recognized this, and we were able to negotiate a five-year, fixed-rate loan at an attractive interest rate with several years of interest only.”