Hypo Real Estate Capital Corporation (âHRECCâ) â" the New York-based subsidiary of Hypo Real
Estate Bank International â" closed a US$ 338.3 million construction loan in March for the first two phases of the development of Maxwell Place on the Hudson, a luxury condominium community in Hoboken, New Jersey.
Maxwell Place is located at 1025 â" 1125 Maxwell Lane on the Hudson River, the former Maxwell House Coffee manufacturing facility site. When completed, the community will total four buildings, consisting of approximately 832 residential units, 1,524 parking spaces and approximately 206,000 square feet of commercial space.
Maxwell Place will be one of the most extraordinary condominium developments ever built on New Jerseyâs Gold Coast. Offering an exceptional standard of luxury urban living, Maxwell Place will feature a number of top tier amenities, including spectacular direct views of Manhattan, a residentsâ club, rooftop pool, fullservice fitness center and 24-hour concierge service.
Developed by PT Maxwell, LLC, a joint venture of Pinnacle Downtown and Toll Brothersâ City Living subsidiary, Maxwell Place represents a collaboration between two of the industryâs premier development
companies. Award winning, internationally recognized architect Michael Graves designed the lobbies and interior space at Maxwell Place with Hobokenâs Dean Marchetto serving as Master Plan Architect.
âWe are proud to be working with Pinnacle and Toll Brothers on this historic condo development,â said Evan F. Denner, head of real estate finance for Hypo Real Estate Capital Corp. âWe are also pleased to continue our market leadership position providing financing solutions to many of the regionâs most visible and noteworthy residential development projects.â
Source: Hypo Real Estate
