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Madison Realty Capital, Unity Capital originate $100m construction loan for mixed-use multifamily development in Long Branch, N.J.
Transactions - MAY 14, 2024

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Madison Realty Capital, Unity Capital originate $100m construction loan for mixed-use multifamily development in Long Branch, N.J.

by Released

Madison Realty Capital and Unity Capital have provided an $85 million construction loan and a $15 million mezzanine loan, respectively, to an affiliate of Kushner Cos. for the development of a 299-unit mixed-use multifamily and retail project located at 144 Broadway Place in Long Branch, N.J. Construction of the property is expected to be completed in the second quarter 2026.

Located on the northern Jersey Shore, the property is situated within walking distance of the Long Branch Boardwalk, Ocean Boulevard and multiple luxury beach clubs, shops and restaurants. Residents will have easy access to major commuter transportation routes to New York City and throughout New Jersey.

“Long Branch is a supply-constrained housing market with significant barriers to entry and has experienced strong and growing demand for luxury residential and retail properties in recent years,” said Josh Zegen, managing principal and co-founder of Madison Realty Capital. “With convenient ac

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