CBRE today announced the closing of a $17 million refinancing of 600 Harrison Street, a Class A 46-unit luxury multifamily apartment building in Hoboken.
Built in 2017 by The Daten Group, the property features open concept floorplans with over-sized windows facing New York City and a state-of-the-art amenity package aimed at tenant attraction and retention. Units are finished with hardwood floors, Caesar Stone quartz countertops, stainless steel appliances, glass enclosed showers, floating vanities, among many other luxury features. Located within a 3-minute walk from the 9th Street Light Rail Station, residents enjoy immediate connectivity to Manhattan and the surrounding Hudson Waterfront.
The CBRE Debt & Structured Finance team of Jason Gaccione, Shawn Rosenthal and Jake Salkovitz along with CBRE’s investment sales team of Fahri Ozturk, Richard Gatto and Zach McHale facilitated the loan on behalf of The Daten Group and its principals, David Ennis and Craig Rosenman.
“This execution did not happen without strategic planning,” Gatto said. “Our team, in conjunction with our Debt & Structured Finance counterparts, strategized with The Daten Group for over a year both analyzing property performance and monitoring market conditions to determine the execution that would deliver the highest proceeds. We are thrilled to be able to deliver such an outstanding outcome for our client.”
“The closing of this refinancing was the best possible outcome for our investors. CBRE did a wonderful job making sure no stone was left unturned throughout the process. 600 Harrison is and will continue to be one of the preeminent, boutique communities in Hoboken. We look forward to continuing to deliver a high standard of living for our residents,” founder and principal of The Daten Group, David Ennis, said.
