**Newmark Secures $71.85M Loan for Pittsburgh Luxury Multifamily Property**
Newmark has successfully arranged a $71.85 million loan on behalf of owner and developer SomeraRoad to refinance The Park at SouthSide Works, a newly constructed luxury multifamily development in Pittsburgh, Pennsylvania.
The financing was secured through Barings by Newmark’s Capital Markets team, including Jordan Roeschlaub, Nick Scribani, Chris Lozinak, and Sam Speciale. Completed in late 2024, the seven-story residential property features 247 luxury units, offering a range of floor plans from junior one-bedrooms to spacious two-story townhomes.
Strategically located on one of the few remaining waterfront parcels in downtown Pittsburgh, The Park at SouthSide Works offers residents immediate access to employment, retail, and entertainment destinations in the SouthSide Works district. It is also within close proximity to major institutions such as UPMC, Carnegie Mellon University, and the University of Pittsburgh. The location provides seamless connectivity to Oakland and downtown Pittsburgh via the Hot Metal Bridge and Penn Lincoln Parkway.
The Park at SouthSide Works represents a key addition to Pittsburgh’s residential landscape, combining luxury living with strategic urban accessibility.
