Commercial real estate services firm CBRE arranged a $32 million permanent loan to refinance Art House, a 119-unit Class A luxury multifamily community in Downtown Jersey City.
The competitive financing package was provided by Nationwide on behalf of the property’s owner and operator, real estate brand DVORA.
Located at 148 First Street, the 12-story property was built in 2014 and is currently 97 percent leased, driven by DVORA’s signature lifestyle programming.
Art House features a comprehensive suite of upscale amenities, including a rooftop swimming pool and lounge with panoramic Manhattan skyline views, a fully equipped fitness center, a yoga and wellness studio, dedicated coworking spaces, a children’s playroom, 24-hour concierge service, bicycle storage, and electric vehicle charging stations.
The financing was negotiated by CBRE’s New Jersey Debt & Structured Finance team, comprising Matthew Pizzolato, Jason Gaccione, Shawn Rosenthal, Josh Stein, Carlos Silva, and Jake Salkovitz.
“We continue to see strong interest from lenders for well-located multifamily properties backed by premier sponsors and operators,” Pizzolato said. “Nationwide recognized the strength of Art House’s location and the DVORA brand and ultimately stepped up to provide the most competitive financing terms.”
The transaction underscores the resilience of premium Hudson County residential assets even amid broader market headwinds.
“This successful refinancing serves as a powerful proof point of the strength of the DVORA brand,” Pizzolato added. “Despite a down market and a challenging, elevated interest rate environment, assets managed under the DVORA banner continue to command premium loan terms from top-tier institutional lenders.”
At the core of this lender demand is DVORA Life, a pioneering residential framework that shifts traditional property management toward a resident-first, hospitality-driven ecosystem. DVORA properties leverage a sophisticated “hub-and-spoke” operational model that delivers high customer service standards alongside institutional-grade, pay-as-you-go ancillary services designed to elevate daily living while optimizing asset performance.
