Walker & Dunlop, Inc. has facilitated a $245 million loan from TYKO Capital to fund the construction of The Greyson, a 28-story, 622-unit mixed-use development in Jersey City, New Jersey. The loan will cover the remaining costs as the project approaches its structural top-off.
The financing was arranged by Walker & Dunlop’s New York Capital Markets team, led by Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Jordan Casella, and William Herring. TYKO Capital, backed by Elliott Investment Management, was selected as the lender for the project, which is being developed by Nasser Freres.
Located on a 0.7-acre site in the vibrant Journal Square neighborhood, The Greyson will feature 389,720 rentable square feet of residential space, offering studio to three-bedroom apartments. The development also includes 44,551 square feet of office space and 2,965 square feet of retail along Homestead Avenue.
Michael Sokoloff, partner at Nasser Freres, expressed enthusiasm for the project: “The Greyson will redefine luxury living in Jersey City, appealing to renters seeking exceptional amenities and prime connectivity as a high-value alternative to Manhattan. We are thrilled to partner with Walker & Dunlop and TYKO Capital on a project that will enhance the skyline and contribute to the vitality of Journal Square.”
The Greyson will offer a variety of high-end amenities, including a rooftop pool with Manhattan skyline views, a state-of-the-art fitness center, virtual reality and sports rooms, and community spaces. Its location near the Journal Square Transportation Center provides residents with convenient access to New Jersey and Manhattan. Additionally, the development will create a public pathway linking Newark Avenue and Pavonia Avenue, enhancing the neighborhood’s walkability.
Keith Kurland, senior managing director at Walker & Dunlop, highlighted Jersey City’s appeal: “Jersey City has undergone a remarkable transformation over the past decade, becoming a magnet for residents seeking competitively priced, spacious rental options compared to NYC. We are proud to work alongside Nasser Freres to bring The Greyson to life and further elevate the neighborhood.”
Jersey City’s growth continues to attract institutional and public investments, including cultural milestones like the opening of the Centre Pompidou and the reopening of the historic Loew’s Jersey Theater. These advancements, coupled with a thriving rental market and strong economy, solidify the city’s position as a top destination for young, high-income renters.
