**Blackstone Provides $515M Refi for Kushner Mixed-Use Project in Jersey City**
Newmark has arranged a $515 million loan on behalf of Kushner Companies to refinance the first phase of The Journal, a new 966-unit luxury multifamily development in Jersey City. The financing was secured from Blackstone by Newmark’s Jordan Roeschlaub, Nick Scribani, and John Caraviello.
The development spans 1.4 million square feet and features a 63-story glass residential tower with 966 market-rate apartments. It also includes 45,000 square feet of amenity space, a 983-space parking garage, and 40,000 square feet of ground-level retail space, which is fully leased to Target.
Recently completed, this building marks the first phase of Kushner’s larger project, The Journal, which will ultimately total 1,723 residential units and 2.1 million gross square feet across two towers. Located adjacent to the Journal Square PATH station, the development offers residents direct transit access to Manhattan, Hoboken, and Downtown Jersey City.
