Walker & Dunlop recently announced it arranged a $245 million loan from TYKO Capital to facilitate the construction of The Greyson, a 28-story, 622-unit Class-A mixed-use tower in Jersey City.
The Walker & Dunlop New York Capital Markets team, led by Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Jordan Casella, and William Herring, acted as exclusive advisors to the client, Nasser Freres, and identified TYKO Capital, which is backed by Elliott Investment Management, as the lender.
The property will rise on a 0.7-acre site in Journal Square, one of Jersey City’s most dynamic neighborhoods. The development will feature 389,720 rentable square feet of residential space, offering a diverse mix of studios, 1-bedroom, 1-bedroom + den, 2-bedroom, and 3-bedroom apartments. Additionally, the project includes 44,551 rentable square feet of office space and 2,965 rentable square feet of retail along the newly extended Homestead Avenue.
“The Greyson will redefine luxury living in Jersey City, appealing to renters seeking exceptional amenities and prime connectivity as a high-value alternative to Manhattan,” Michael Sokoloff, a partner at Nasser Freres, said. “We are thrilled to partner with Walker & Dunlop and TYKO Capital on a project that will not only enhance the skyline but also contribute to the vitality of the Journal Square community.”
The Greyson will boast an array of cutting-edge amenities, including a rooftop pool with Manhattan skyline views, state-of-the-art fitness center, immersive virtual reality and sports rooms, and thoughtfully designed communal spaces.
“Jersey City has undergone a remarkable transformation over the past decade, becoming a magnet for residents seeking competitively priced, spacious rental options compared to NYC,” Keith Kurland, senior managing director and co-head of New York Capital Markers at Walker Dunlop said. “We are proud to work alongside Nasser Freres to bring The Greyson to life and further elevate the neighborhood.”
