CBRE said Feb. 5 it has secured $96 million in financing for Prospect Place, a 360-unit, two-building luxury residential complex at 300-310 Prospect Ave. in Hackensack. CBRE arranged the financing via Freddie Mac.
The CBRE Capital Markets team of Judah Hammer, Jason Gaccione, Shawn Rosenthal, Jake Salkovitz and Lauren Weinstein arranged the financing on behalf of the sponsor, Khosla Capital, an Englewood owner/operator of multifamily real estate in the tri-state area.
“The Khosla Team acquired the asset in 2021 and invested significant capital to refresh the community,” said Gaccione. “The reimagined resident experience is central to their business and why this project has been so successful.”
Prospect Place consists of two buildings, including an 18-story tower with 157 units and a five-story midrise with 203 apartments. Units feature contemporary interiors with hardwood-style flooring, walk-in closets, in-unit washer/dryers, and private patios or balconies. Select renovated units have vaulted ceilings, fireplaces, granite countertops, and stainless-steel appliances.
Resident amenities include an outdoor pool, a fitness center with cardio theater, a clubhouse, a resident lounge, a business center and a sundeck. The property also offers concierge services and garage parking. The property is adjacent to Hackensack University Medical Center and just minutes from Fairleigh Dickinson University and top shopping centers, including The Shops at Riverside and Bergen Town Center.
