JLL Capital Markets today announced that it has arranged $9.775 million in construction financing for One Mallory, a 44-unit, seven-story luxury resort located at 70 Fisk Street on the West Side of Jersey City.

JLL represented the borrower, 70 Fisk, LLC, in securing the 2.5-year variable rate construction loan through Spencer Savings Bank.

With expected completion by Spring 2024, One Mallory will feature studio, one-, and two-bedroom units with gourmet kitchens, quartz countertops, subway tile backsplashes, wood-plank style floors, washers and dryers, elegant tiled bathrooms, stainless steel appliances and private terraces in some units. The building will offer state-of-the-art community amenities including an 1,800 square foot rooftop terrace with lounge seating and panoramic city views, a modern fitness center, an oversized resident lounge with televisions and a bar, a secure local package, charging stations for electric cars, bicycle storage and covered parking for 22 vehicles.

Located at 70 Fisk Street, the property enjoys exceptional access to the region’s strong transportation network. The Hudson-Bergen Light Rail West Side Avenue station is just two blocks from the property, which serves commuters along the waterfront and transfers to New York City. The Journal Square PATH station is located approximately two miles from the site, and State Route 440 is just two blocks west of the property. The University of New Jersey City is less than half a mile from 70 Fisk and St. Peter’s University is just 1.4 miles north of the property on McGinley Square. Plus, nearby leisure, shopping, and dining attractions such as Courtney Fricchione Park, Hudson Mall, and Lincoln Park are all near the property.

The JLL Capital Markets Debt Advisory team representing the borrower was led by Director Max Custer and Senior Director Thomas E. Didio, Jr.

“Jersey City’s West Side has shown exciting momentum over the past 24 or so months with several new projects being launched or nearing completion,” Custer said. “One Mallory will no doubt be a fantastic addition to this rapidly changing neighborhood.”

JLL Capital Markets is a global, full-service provider of capital solutions for property investors and occupiers. The firm’s deep knowledge of the local market and global investors provides best-in-class solutions to its clients, whether it is investment and sales advisory, debt advisory, equity advisory or recapitalization . The firm has more than 3,000 capital markets specialists worldwide with offices in nearly 50 countries.

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