CBRE Group’s New Jersey Capital Markets Debt & Structured Finance team has arranged $96 million in financing on behalf of Strategic Capital LLC.
The financing was secured through two separate permanent loans for Hudson Park South and Hudson Park North. Both buildings are class A high-rise residential towers overlooking the Hudson River in Yonkers, New York.
The CBRE team of James Gunning, Donna Falzarano and Stephen Joseph arranged both loans with a California-based bank. Each loan has a seven-year term and both were locked at very attractive fixed rates upon closing.
Located at 1 Pier Point St. and 1 Van Der Donck St., the 317,268 s/f Hudson Park South is comprised of 266 luxury residential units situated in connected nine-story and four-story residential towers with a parking garage and a third nine-story residential tower with a parking garage.
The complex features 18,600 s/f of retail on its ground floor, with a roster of tenants that includes Café Hudson, Dolphin Restaurant, Wine in Due Time and Bark & Purr LLC.
Hudson Park North, located at 1 Alexander St., is comprised of 294 luxury residential units over 330,412 s/f. The complex features two towers of 12 and 14 stories – connected by a four-story apartment building and a four-story parking garage linked to its northernmost tower.
Hudson Park South and Hudson Park North are located directly adjacent to the Yonkers Metro-North rail station, offering service to Grand Central Station in less than 30 minutes. Amenities include a 24-hour fitness center, an executive business center and concierge service, among others.
Hudson Park South and Hudson Park North are the first and second phases, respectively, of a three-phase redevelopment plan for the Hudson River waterfront in Yonkers that is transforming the neighborhood into a dynamic, transit-oriented community.
Both are highly visible along the Hudson River, providing distinct brand recognition and unobstructed views.
Ground broke on the third and final phase of the Hudson Park development, Hudson Park River Club, in September 2015. This $85 million residential tower will feature 213 studio and one-and-two bedroom rental units, a health club, event space, a recreation area and parking for 160 vehicles. Hudson Park River Club is the third and final phase of the waterfront residential park.