Bravo Property Trust, an affiliate of Bravo Capital, co-founded by Aaron Krawitz and Gabi Moshayev, which is a leading privately held bridge and construction lender, is excited to announce the closing of a $169.3 million senior construction loan located in the Journal Square neighborhood of Jersey City at 1075 West Side Square.
We continue to see tremendous opportunities in construction financing as other lenders are pulling back. The sponsorship is world-renowned and continues to raise the bar for new development.Aaron Krawitz, CEO of Bravo Property Trust and Bravo Capital
The project is a new 477-unit Class A rental building with ground floor retail. Located a half mile from the PATH station, West Side Square offers direct access to Downtown Manhattan and an exceptional amenity package for the submarket, including a pool, decks, lounges, grilling areas, and other common spaces. The sponsorship team includes Westdale Construction, Lanterra, Alltree and LanTree Developments.
The site broke ground in December of 2023 and has all necessary municipal permits and approvals to complete construction. Located in one of the fastest-growing submarkets in the New York Metro area, Journal Square has experienced significant development in recent years following the Journal Square zoning resolution. The submarket continues to exhibit strong absorption and low stabilized vacancy levels.
About Bravo Property Trust: Bravo Property Trust is a leading bridge and construction financing platform, which, along with its affiliates, has closed over $1.2 billion in financing.