The residential boom along New Jersey’s “Gold Coast” shows no signs of slowing down. Kearny Bank announced Thursday that it has closed a $17.46 million construction-to-permanent loan to fund a new six-story multifamily project in Bayonne.
The development, located at 111 Avenue F, will bring 65 new luxury apartment units to a city that has become a primary target for renters seeking a balance between urban access and neighborhood value.
A key driver behind the project’s viability is its proximity to major transportation hubs. Situated just a short walk from the 22nd Street Light Rail Station, the new building will offer future residents a seamless commute to Manhattan, Hoboken and Jersey City.
The investment highlights the continued demand for transit-oriented development (TOD) along the Hudson County waterfront, where proximity to the light rail has transformed formerly industrial pockets into vibrant residential corridors.
“Working with strong local developers, we’re committed to supporting commercial projects along New Jersey’s Gold Coast,” Gary Brozowski, Kearny Bank’s director of Commercial Real Estate Lending said. “We’re consistently focused on financing opportunities that help drive long-term growth in the communities we serve.”
This latest deal in Bayonne is part of a much larger aggressive lending strategy for Kearny Bank. Over the past 24 months, the institution has funneled more than $500 million into commercial real estate projects across the Mid-Atlantic region, including New Jersey, New York, Connecticut, Delaware, Maryland, and Pennsylvania.
By providing “construction-to-permanent” financing, the bank offers developers a streamlined path from ground-breaking to long-term operation—a critical factor in maintaining the momentum of New Jersey’s current construction cycle.
