{"id":358723,"date":"2026-09-28T12:20:08","date_gmt":"2026-09-28T12:20:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/358723\/"},"modified":"2026-09-28T12:20:08","modified_gmt":"2026-09-28T12:20:08","slug":"namdar-lands-310-million-construction-loan-for-873-unit-journal-square-tower-newmark-says","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/358723\/","title":{"rendered":"Namdar lands $310 million construction loan for 873-unit Journal Square tower, Newmark says"},"content":{"rendered":"

Plans for 555 Summit Ave. in Jersey City call for studio to two-bedroom rental homes with amenities such as a fitness center, a rooftop lounge and terrace, a club room and coworking space, as well as some 2,300 square feet of retail space. \u2014 Rendering courtesy: Newmark<\/p>\n

By Joshua Burd<\/p>\n

Namdar Group has scored financing for another major project in Jersey City, securing a $310 million construction loan for the first of two new towers on Summit Avenue.<\/p>\n

Newmark arranged the debt with TYKO, noting that plans for 555 Summit Ave. call for a 47-story, 873-unit building just north of the Journal Square Transportation Center. The high-rise will be part of a two-phase development with a combined 1,542 units, joining Namdar\u2019s fast-growing portfolio and pipeline in the burgeoning Journal Square district.<\/p>\n

The Newmark team included Co-Head of Global Debt Structured Finance Jordan Roeschlaub, Vice Chairman Nick Scribani, Senior Managing Director Max Ralby and Associate Dante DiStefano. They noted that 555 Summit Ave. will include floorplans ranging from studios to two-bedroom homes with amenities such as a fitness center, a rooftop lounge and terrace, a club room and coworking space, as well as some 2,300 square feet of retail space.<\/p>\n

The project\u2019s second phase will take place at 547 Summit Ave.<\/p>\n


\n \"Print
\n <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Plans for 555 Summit Ave. in Jersey City call for studio to two-bedroom rental homes with amenities such…\n","protected":false},"author":2,"featured_media":358724,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[9,11,10],"class_list":["post-358723","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-new-york","tag-new-york-headlines","tag-new-york-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/358723","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=358723"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/358723\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/358724"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=358723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=358723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=358723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}