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Madison Realty Capital originates $97m construction loan for mixed-use luxury residential redevelopment project in Hoboken, N.J.
Transactions - APRIL 19, 2024

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Madison Realty Capital originates $97m construction loan for mixed-use luxury residential redevelopment project in Hoboken, N.J.

by RELEASED

Madison Realty Capital announced that it has provided a $97 million construction loan to the Taurasi Group for the redevelopment of a five-story industrial loft building located at 38 Jackson Street in Hoboken, N.J.

Upon completion, the renovated nine-story, 493,915-square-foot property will provide a mix of 110 luxury residential condominium units, high-quality communal amenities, approximately 50,000 square feet of ground-floor retail and a 300-space parking garage in the South End neighborhood of Hoboken. Construction of the property is currently under way and is anticipated to be completed in the third quarter of 2025.

Upon completion, the 110-unit luxury residential property will include a unit mix of one- to five-bedroom residences with unobstructed views of the Manhattan skyline. Each will be equipped with full stainless steel appliance packages, custom cabinetry, high ceilings, floor-to-ceiling windows, luxury wood plank flooring, high-end fixtures, in-unit was

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