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**BlueGate Secures $162 Million Construction Financing for Hoboken Urby Development**
BlueGate Partners, representing 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 senior construction loan was provided by PCCP. The financing effort was led by BlueGate’s execution team, including Mark DeLillo, Marc Schulder, Lee Spiegelman, Felipe Marin, Eli Zaoutis, and Jeremy Silber.
The 16-story, 418,332-square-foot project will include 307 market-rate apartments and 38 affordable housing units. In addition to the residential component, the development will feature 17,425 square feet of retail space and a 152-space parking garage.
Strategically located just a few blocks from Hoboken Terminal, Hoboken Urby will offer residents exceptional transit connectivity. The site provides direct access to PATH service—with travel times of just 11 minutes to the World Trade Center and 16 minutes to 33rd Street—as well as NJ Transit commuter rail and ferry services to Manhattan.
“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.
The Hoboken Urby project is set to become a standout addition to the city’s skyline and housing landscape, offering a modern living experience in a highly accessible urban location.
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