Cushman & Wakefield on Tuesday said it secured $81 million in refinancing for One Grove, a 200-unit multifamily property in Jersey City. The deal, secured on behalf of borrower Sing Wang of TKK Capital, was financed by Societe Generale with a five-year full-term, interest-only loan.
Located at 215 Grove Street, One Grove includes a mix of studio to three-bedroom apartments with high-end finishes and appliances. Designed by MHS Architecture, approximately 30% of the units feature private outdoor spaces. The property also offers furnished short-term rental apartments, catering to a variety of leasing needs.
“This transaction highlights both the ongoing demand for well-located, high-quality multifamily properties and the strength of Jersey City’s real estate market,” Domenico said. “Our team was able to leverage our expertise in this sector and market to secure favorable terms for the borrower in a competitive financing environment. The loan ensures continued financial stability and supports the property’s long-term operational objectives as a premier apartment community in Jersey City.”
Strategically positioned at the vibrant south end of the Grove Street corridor, One Grove provides residents with an appealing range of modern amenities. These include a landscaped rooftop terrace, a state-of-the-art fitness center, a coworking space, a resident lounge, and a demonstration kitchen.
Additionally, the property features a parking garage and communal transportation options, including the nearby PATH train and the Hudson-Bergen Light Rail, enhancing convenience for tenants.
