Real estate services firm Cushman & Wakefield said it arranged an $81 million refinancing deal for One Grove, a 200-unit multifamily property at 215 Grove St. in Jersey City. The deal, secured on behalf of borrower Sing Wang of TKK Capital, was financed by Societe Generale with a five-year full-term, interest-only loan.
One Grove, which opened in 2024, includes a mix of studio to three-bedroom apartments with high-end finishes and appliances. Designed by MHS Architecture, about 30% of the units feature private outdoor spaces. The property also has furnished short-term rental apartments.
Brad Domenico, Frank Stanislaski, and Jack Subers of Cushman & Wakefield’s equity, debt & structured finance group advised the borrowers. Societe Generale was represented by David Froschauer, Paul Cognetti, and Carlos Lambarri Altamira in executing the refinancing agreement. Niko Nicolaou and Ryan Dowd of Cushman & Wakefield’s multifamily advisory group advised on the transaction.
“This transaction highlights both the ongoing demand for well-located, high-quality multifamily properties and the strength of Jersey City’s real estate market,” said Domenico. “Our team was able to leverage our expertise in this sector and market to secure favorable terms for the borrower in a competitive financing environment. The loan ensures continued financial stability and supports the property’s long-term operational objectives as a premier apartment community in Jersey City.”
One Grove is located at the south end of the Grove Street corridor. Its amenities include a landscaped rooftop terrace, fitness center, a coworking space, a resident lounge, and a demonstration kitchen. Additionally, the property features a parking garage and transportation options such as the PATH train and the Hudson-Bergen Light Rail.
