Jersey City community gets $26 million loan

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Nest Micro Apartments. Image courtesy of JLL Capital Markets

190 Urban Renewal Academy LLC secured $25.5 million in financing for the six-story Nest Micro Apartments, a 122-unit luxury community in Jersey City, NJ JLL Capital Markets arranged the loan by Argentic Investment Management LLC.

Located at 190 Academy St., the property is less than four miles from downtown Manhattan, with easy access through the Holland Tunnel. Cultural and entertainment options are nearby, with Loew’s Jersey Theater less than half a mile away and the Smush Gallery within walking distance. Dining and retail options are also available nearby along Sip Avenue and Montgomery Street.

Completed in July 2021, the Class A community offers 122 studios and 1,350 square feet of ground floor retail space anchored by Flip Sigi, a Filipino-inspired taqueria. Units feature stainless steel appliances, convertible furniture with wood and tile flooring. Amenities include a fitness center, recreation room, bicycle storage, laundry facilities, and rooftop terrace.

190 Academy Urban Renewal LLC was represented in the transaction by director Max Custer, senior directors Michael Oliver and Matthew Pizzolato, and analyst Salvatore Buzzerio of JLL Capital Markets.

Earlier this month, JLL Capital Markets secured a $78 million loan for a 254-unit community in Hackensack, NJ

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