Newmark Arranges $277 Million Construction Loan for Urby and Rockpoint Group's 748-Unit Jersey City Tower
Newmark has arranged a $277 million construction loan on behalf of a joint venture between Urby and Rockpoint for 201 Hudson – by Urby, a planned 69-story, 748-unit multifamily tower at 201 Hudson Street on the Jersey City waterfront, the firm announced August 25, 2026.
Truist provided the construction financing, which will fund ongoing development of the high-rise in Jersey City's Paulus Hook neighborhood. The loan represents approximately $370,000 per apartment unit across the 528,000-rentable-square-foot building.
Deal Team and Structure
Newmark's Jordan Roeschlaub, Co-Head of Global Debt & Structured Finance, and Vice Chairman Chris Kramer, along with Director Holden Witkoff and Analyst Jack Fenton, arranged the construction financing with Truist on behalf of the joint venture.
Separately, Newmark's Adam Spies, Co-Head of U.S. Capital Markets, Executive Vice Chairman Adam Doneger, and Managing Director Michael Collins advised Urby and Rockpoint on the joint venture capitalization, which was previously announced. The construction loan follows the equity capitalization, with Newmark advising on both sides of the capital stack.
Project Details: 201 Hudson – by Urby
Upon completion, the 69-story tower will deliver 748 market-rate apartments across approximately 528,000 rentable square feet. The unit mix will include studio, one-, two-, and three-bedroom residences, with an average unit size of approximately 706 square feet. The development will also include approximately 10,000 square feet of ground-floor retail space and 102 surface parking spaces.
Planned amenities include a pool, fitness center, social and coworking spaces, outdoor recreation areas, and curated food-and-beverage offerings. The tower's location provides access to PATH service, NY Waterway ferry routes, and major regional transportation networks, offering direct connectivity to Manhattan.
Construction is expected to take approximately three years, with delivery targeted around mid-2029.
Second Phase of a Three-Tower Master Plan
201 Hudson – by Urby represents the second phase of a three-tower master-planned multifamily development on the Jersey City waterfront. The first phase is the existing Urby tower at 200 Greene Street, also in Jersey City. The phased development ties the new financing to an established operating platform and brand presence in the same submarket, providing the lender and equity partners with operational data and lease-up experience from the completed first tower.
At an implied construction cost of approximately $525 per rentable square foot based on the loan amount alone — excluding land cost and equity — the project is positioned at the upper end of the Jersey City rental market.
Market Context
The financing arrives as Jersey City's waterfront submarket continues to attract institutional capital for large-scale multifamily development. The Paulus Hook neighborhood, situated along the Hudson River with views of the Manhattan skyline and New York Harbor, has emerged as one of the region's more active residential development corridors.
The sequencing of the transaction — with the joint venture equity announced in summer 2026 followed by construction debt in late August — indicates that land and entitlement risk were substantially resolved before the construction loan was placed. Newmark's role advising on both the joint venture capitalization and the debt placement reflects the firm's involvement across the full capital stack for the project.
Newmark Group, Inc. (Nasdaq: NMRK) reported revenues of more than $3.4 billion for the twelve months ended March 31, 2026, and operates from over 185 offices with more than 9,600 professionals across four continents.