JLL Capital Markets has successfully secured $155 million in construction financing for the development of Charlie, a 386-unit multifamily complex located in Hoboken, NJ. The loan was arranged by a team led by senior managing directors Jon Mikula and Jim Cadranell, along with VP Michael Lachs on behalf of LCOR Inc.
Scheduled for completion in 2026, Charlie is a luxurious mixed-use residential tower spanning 27 stories. It is strategically situated next to the NJ Transit Hoboken Terminal, providing residents with convenient access to various transportation options such as buses, rail services from NJ Transit and PATH trains.
The waterfront community will also benefit from local and state incentives including a 30-year PILOT agreement from the City of Hoboken and $90 million worth of Aspire Tax Credits granted by the New Jersey Economic Development Authority.
According to Mikula: “This project has been almost two decades in the making which further highlights its value as it sits adjacent to one of busiest train stations in America.”
Pictured above is an artist’s rendering showcasing LCOR’s vision for Charlie at its location on Observer Highway (201).
