**BlueGate Partners Secures $162M Construction Financing for Hoboken Urby Project**
BlueGate Partners, working on behalf of Urby and Ironstate Holdings, has successfully arranged $162 million in construction financing for Hoboken Urby, a new mixed-use residential development in Hoboken, New Jersey. The financing includes a senior construction loan provided by PCCP.
The BlueGate team responsible for the execution included Mark DeLillo, Marc Schulder, Lee Spiegelman, Felipe Marin, Eli Zaoutis, and Jeremy Silber.
Hoboken Urby will be a 16-story, 418,332-square-foot building that includes 307 market-rate apartments and 38 affordable housing units. In addition, the property will feature 17,425 square feet of retail space and a 152-space parking garage. Strategically located just a few blocks from the Hoboken Terminal, the development offers future residents convenient access to PATH trains, with travel times of 11 minutes to the World Trade Center and 16 minutes to 33rd Street. NJ Transit commuter rail and ferry services to Manhattan are also easily accessible.
“Hoboken Urby will redefine the residential experience in Hoboken, blending innovative design, high-quality finishes, and state-of-the-art amenities with unmatched connectivity to Manhattan,” said Mark DeLillo of BlueGate Partners.
