The skyline of New Jersey’s “Gold Coast” continues to draw massive institutional confidence, as JLL Capital Markets announced Friday the successful $109.5 million refinancing of Riello Edgewater, a premier Class A multifamily high-rise situated directly on the Hudson River waterfront.
The financing package was arranged on behalf of the property’s sponsors, Skylight Real Estate Partners and PCCP. The three-year, floating-rate loan was secured through MF1, highlighting the continued liquidity available for high-performing residential assets in the New York metropolitan area.
Located at 99 Gorge Road, Riello Edgewater has capitalized on the shifting preferences of modern renters who prioritize space without sacrificing city access. The 226-unit community stands out for its unusually large floor plans, which average 1,139 square feet—significantly larger than the typical Manhattan apartment.
The property offers a range of configurations, including:
- Diverse Layouts: One- through four-bedroom floor plans
- Premium Suites: Multi-level penthouses
- Modern Needs: Specific layouts featuring dedicated home office spaces and wraparound balconies with panoramic views of the Manhattan skyline
The refinancing follows a series of high-end upgrades to the building’s common areas, including a redesigned lobby, a state-of-the-art fitness center with a sauna, a golf simulator, and an expansive outdoor lounge.
The deal underscores Edgewater’s successful transformation from a historical industrial hub into one of New Jersey’s most affluent residential enclaves.
“Edgewater successfully transitioned from its industrial past into a premier residential community along New Jersey’s Gold Coast,” JLL noted in the announcement.
The borough has become a magnet for professionals seeking a “best of both worlds” lifestyle—waterfront dining and upscale retail at home, with seamless transit connections to downtown Manhattan via the George Washington Bridge, Lincoln Tunnel, and local ferry services.
Market snapshot: Riello Edgewater
| Feature | Details |
| Total Square Footage | 272,191 sq. ft. |
| Total Units | 226 |
| Average Unit Size | 1,139 sq. ft. |
| Parking Spaces | 341 |
| Refinancing Amount | $109.5 Million |
