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**S3 Capital Originates $255M Construction Loan for Edgewater Mixed-Use Development**
S3 Capital has originated a $255 million construction loan to finance the first phase of a $1 billion mixed-use development located at 615 River Road along the Hudson River in Edgewater, New Jersey.
The initial phase of the project will feature a 25-story luxury rental tower comprising 381 apartments, ground-floor retail space, and parking accommodations for more than 500 vehicles. Upon full completion, the development is expected to deliver approximately 1,200 residential units and will feature on-site ferry service to Manhattan’s West Side, enhancing its appeal as a transit-oriented residential destination.
The project is being led by The Maxal Group, a seasoned real estate developer with a strong portfolio across the New York and New Jersey markets. S3 Capital’s Steven Jemal played a key role in the transaction.
“We see immense opportunity in financing transit-oriented residential developments adjacent to major city centers,” said Jemal. “This project’s innovative onsite ferry terminal will create lasting value for the entire Edgewater community, and we look forward to supporting The Maxal Group throughout the construction process.”
The Edgewater development underscores the growing demand for accessible, high-quality housing near urban hubs, and reinforces S3 Capital’s commitment to supporting impactful, community-oriented projects.
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