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Harborside 8, a luxurious majestic upward thrust in Jersey Town, lands $306M senior non-recourse financing and $78M most popular fairness funding
MORRISTOWN, N.J., Dec. 16, 2025 /PRNewswire/ – JLL‘s Capital Markets team introduced lately that it has tied $306 million in senior non-recourse development financing and $78 million in most popular fairness for the land acquire and vertical development of Harborside 8, a 678-unit, luxurious waterfront multi-housing construction alongside the Hudson River Waterfront in Jersey Town, Fresh Jersey.
JLL represented the debtors, Panepinto Houses and AJD Building, in securing the floating-rate senior mortgage via Kennedy Wilson. JLL additionally organized the most popular fairness via Affinius Capital.
Harborside 8
Harborside 8, positioned at 242 Hudson St. in Jersey Town’s waterfront community, trade in remarkable get right of entry to to Ny with a five-minute move to the Trade Playground PATH station and Paulus Hook Ferry offering direct transportation around the Hudson River. The trait sits within the East-Waterfront district of the Harsimus Cove Station Redevelopment Segment, which promotes high-density construction to build walkable, mixed-use neighborhoods.
Jersey Town’s waterfront has skilled super redevelopment over the while 20 years, reworking unloved rail yards and commercial structures into sumptuous residential towers and mixed-use tasks. The segment represents some of the biggest and maximum a success waterfront redevelopment tales in the USA, providing citizens remarkable worth and handy commuting flows into Ny.
The deliberate 65-story residential tower will constituent 719,726 sq. ft of rentable length throughout 678 gadgets, together with studios, one-, two- and three-bedroom flats. The advance may even come with 8,578 sq. ft of ground-floor retail length and 350 parking areas that can come with EV charging stations, and a 40,000 sq. understructure redesigned waterfront population landscape.
The luxurious condominium people will do business in in depth facilities throughout greater than 20,000 sq. ft of amenity length, together with a health middle, indoor swimming pond, yoga studio, golfing simulator, rooftop terraces, co-working rooms and a wine bar. Citizens will revel in breathtaking perspectives of Fresh York Town, the Hudson River and the Statue of Self government.
JLL Capital Marketplace’s crew representing the borrower was once led by means of Senior Managing Director Thomas Didio, Managing Director Thomas E. Didio Jr., Senior Director Ryan Robertson, Director Gerard Quinn and Colleague John Cumming.
“This financing sends a clear message: Jersey City’s waterfront remains one of the strongest, most sought-after rental markets in the country. In the face of continued new supply, demand here continues to outpace delivery, driving exceptional rent growth to best-in-class developments like Harborside 8. This sizable transaction is a direct result of unmatched local expertise and proven execution by Panepinto & AJD – names that have shaped the Jersey City skyline for decades,” mentioned Didio Jr. “Thank you to Kennedy Wilson and Affinius Capital for their partnership – together powering the newest benchmark for luxury living on the Gold Coast.”
“It is deeply fulfilling to see this journey come full circle – from the 1996 land acquisition that enabled the development of Harborside Plaza 10 to today, as we commence construction on Harborside 8 and 9,” mentioned Joseph Panepinto, Sr. of Panepinto Houses.
“Harborside 8 aligns with our team’s strategy to support transformative multifamily developments in regions experiencing rapid growth. We are proud to play a role in bringing this high-impact multifamily project to fruition in Jersey City, which continues to experience low vacancy levels and consistent rent growth,” added Thomas Whitesell, Head of Kennedy Wilson’s Debt Funding Workforce. “This financing will enable Kennedy Wilson to deepen partnerships with a best-in-class development team between Panepinto Properties and AJD Construction, and we are excited to contribute to the success of an exceptional new residential tower that will have a dramatic impact on the Jersey City skyline.”
The advance companions plan to split floor in Q1 2026 with stabilization expected in Q1 2030. Panepinto Houses, based in 1977, has outstanding itself as a pioneer in exceptional industrial, residential and mixed-use trends all the way through Jersey Town, day AJD Building has constructed over 50,000 flats valued at over $6 billion since its creation in 1977.
JLL’s Capital Markets team is a full-service world supplier of capital answers for actual property traders and occupiers. The gang’s in-depth native marketplace and world investor wisdom delivers the best-in-class answers for purchasers — whether or not funding gross sales and advisory, debt advisory, fairness advisory or a recapitalization. The gang has greater than 3,000 Capital Markets experts international with workplaces in just about 50 international locations.
For extra information, movies and analysis assets, please talk over with JLL’s newsroom.
About Panepinto Houses
Panepinto Houses has been a marketplace chief and innovator in Jersey Town actual property construction since 1977, attractive in cutting edge actual property tasks nationally and the world over with a focal point on design and infrastructure construction, long-term trait and asset control and fresh nice artwork products and services for residential, place of work and lodge tasks. As an independently owned and operated corporate, Panepinto Houses works carefully with monetary establishments, town and circumstance companies, engineers, architects, designers and artists to safeguard each and every mission is exclusive and a success day reworking and energizing neighborhoods to build worth for the native people.
About AJD
Based in 1977 by means of Anthony J. Diaco, AJD Building is a privately owned common contractor that specialize in low/mid/high-rise residential structures. For almost 5 many years, AJD has prided itself as a streamlined corporate of fertile people with ordinary objectives in thoughts: activity final touch and potency, and in the long run, buyer delight. AJD has constructed over 60,000 flats producing a portfolio valued at over $20 Billion USD.
About Kennedy Wilson
Kennedy Wilson (NYSE: KW) is a important actual property funding corporate with $31 billion of belongings below control in majestic expansion markets throughout the USA, the United Kingdom and Eire. Drawing on many years of revel in, its relationship-oriented crew excels at figuring out alternatives and development worth via marketplace cycles, terminating greater than $60 billion in overall transactions around the trait spectrum since going population in 2009. Kennedy Wilson owns, operates, and builds actual property inside of its high quality, core actual property portfolio and thru its funding control platform, the place the corporate goals opportunistic fairness and debt investments along companions. For additional knowledge, please talk over with www.kennedywilson.com.
About JLL
For over 200 years, JLL (NYSE: JLL), a important world industrial actual property and funding control corporate, has helped purchasers purchase, manufacture, occupy, top and put money into a number of industrial, commercial, lodge, residential and retail houses. A Fortune 500 corporate with annual income of $23.4 billion and operations in over 80 international locations world wide, our greater than 113,000 staff deliver the facility of a world platform mixed with native experience. Pushed by means of our function to condition the generation of actual property for a greater global, we support our purchasers, family and communities SEE A BRIGHTER WAYSM. JLL is the emblem title, and a registered trademark, of Jones Lang LaSalle Integrated. For additional knowledge, talk over with jll.com.
Touch: Gréta Kieras, Senior Colleague, Community Members of the family
Telephone: +1 949 930 8498
Electronic mail: [email protected]
SOURCE JLL
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