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Debt & Equity Residential

DMG Investments closes $71.6 million construction loan in Cliffside Park, NJ

DMG Investments has closed a $71.6 million construction loan for One Park, a 204-unit luxury condo rising in Cliffside Park, NJ.

The 14-story building topped out in August and is scheduled to be completed in fall, 2018. The financing was secured by DMG with the assistance of Cooper-Horowitz, Inc. through AIG.

“We’re delighted to receive this vote of confidence from a commercial lending institution that recognizes One Park’s unique qualities and widespread appeal to buyers both here and oversees,” said Jacky He, Executive Vice President of DMG Investments, the US subsidiary of DoThink Holding Group, a real estate developer in China.

“With a clifftop location that maximizes the building’s dramatic views, world-class design, inspiring amenities and proximity to Manhattan and the vibrant Hudson River waterfront, One Park offers a new perspective on Gold Coast living.”

Designed by Architectura, with interiors curated by VLDG, One Park has a glass curtain wall and private outdoor space for every home. One-, two-, three- and four-bedroom residences are priced from $495,000. Halstead Property Development Marketing (HPDM) is directing the sales effort.

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