Newmark Arranges $515M Loan for Refinancing of Jersey City Apartment Building

Kushner lands $515M loan for Journal Square tower

Newmark arranged a $515 million loan on behalf of Kushner Cos. for phase one of the company’s 966-unit luxury multifamily building in Jersey City‘s Journal Square. The refinancing for The Journal comes as pre-leasing for the first, recently completed 63-story tower and podium kicked off earlier in 2025. Newmark Co-President, Global Debt & Structured Finance Jordan Roeschlaub, Vice Chairman Nick Scribani and Director John Caraviello secured the f…

Newmark Arranges $515M Loan for Refinancing of Jersey City Apartment Building

JERSEY CITY, N.J. — Newmark has arranged a $515 million loan for the refinancing of Phase I of The Journal, a 966-unit apartment building in Jersey City. The newly constructed building is part of a larger, $1 billion development that will feature two 63-story towers with a combined 1,723 units. The Journal also includes a 983-space parking garage, 45,000 square feet of amenity space and 40,000 square feet of retail space that is fully leased to …

Newmark: Kushner lands $515 million refi for first phase of ‘The Journal’ in Jersey City – Real Estate NJ

The Journal will comprise two 64-story glass towers housing 1,723 residential units, 45,000 square feet of upscale amenities and 40,000 square feet of ground-floor retail space. — Rendering courtesy: Kushner By Joshua Burd Kushner has secured a $515 million loan from Blackstone for the 966-unit first phase of The Journal, its high-profile multifamily project in Jersey City’s booming Journal Square district. Brokers with Newmark arranged the tran…