YONKERS, N.Y. -- CBRE Group has announced that its New Jersey Capital Markets Debt & Structured Finance team has arranged $96 million in financing on behalf of Strategic Capital.
The financing was secured through two separate permanent loans for Hudson Park South and Hudson Park North. Both buildings are class A high-rise residential towers overlooking the Hudson River in Yonkers.
The CBRE team of James Gunning, Donna Falzarano and Stephen Joseph arranged both loans with a California-based bank. Each loan has a seven-year term.
Located at 1 Pier Point St. and 1 Van Der Donck St., the 317,268-square-foot Hudson Park South is comprised of 266 luxury residential units situated in connected nine-story and four-story residential towers with a parking garage, and a third nine-story residential tower with a parking garage.
The complex features 18,600 square feet of retail space on its ground floor, with a roster of tenants that includes Café Hudson, Dolphin Restaurant, Wine in Due Time and Bark & Purr.
Hudson Park North, located at 1 Alexander St., is comprised of 294 luxury residential units over 330,412 square feet.
The complex features two towers of 12 and 14 stories, connected by a four-story apartment building and a four-story parking garage linked to its northernmost tower.
Hudson Park South and Hudson Park North are located directly adjacent to the Yonkers Metro-North rail station, offering service to Grand Central Station in less than 30 minutes.
Amenities include a 24-hour fitness center, an executive business center and concierge service.
Hudson Park South and Hudson Park North are the first and second phases, respectively, of a three-phase redevelopment plan for the Hudson River waterfront in Yonkers. Both are highly visible along the Hudson River, providing unobstructed views.
Ground broke on the third and final phase of the Hudson Park development, Hudson Park River Club, in September 2015.
The $85 million residential tower will feature 213 studio and one-and-two bedroom rental units, a health club, event space, a recreation area and parking for 160 vehicles.