JLL secured $384 million in capital‑markets financing for Harborside 8, a 65‑story, 678‑unit luxury tower at 242 Hudson St. The package includes a $306 million senior non‑recourse construction loan from Kennedy Wilson and $78 million preferred equity from Affinius Capital, providing the capital needed for land acquisition and vertical construction.
The project also features 8,578 sq ft of ground‑floor retail, 350 parking spaces equipped with electric‑vehicle charging stations, a 40,000‑sq ft waterfront park, and more than 20,000 sq ft of amenities—including a fitness center, indoor pool, yoga studio, golf simulator, rooftop terraces, co‑working rooms, and a wine bar. Construction is slated to begin in the first quarter of 2026, with stabilization projected for the first quarter of 2030.
The financing underscores JLL’s role as a full‑service capital‑markets advisor. By securing both debt and equity, JLL demonstrates its ability to assemble complex financing structures for high‑profile developments, reinforcing its position as a leading global capital‑markets provider. The deal also reflects the continued strength of Jersey City’s waterfront, which has evolved from industrial use to a mixed‑use, transit‑oriented hub that attracts premium multifamily demand.
JLL’s CEO Christian Ulbrich highlighted the company’s broader performance, noting that “JLL achieved strong top and bottom‑line results as well as impressive free cash flow generation in the third quarter, led by an acceleration in transactional revenue and ongoing momentum in our resilient businesses.” The financing aligns with JLL’s strategy to deepen its capital‑markets footprint and support growth in the multifamily sector.
The transaction, completed on December 16, 2025, adds to JLL’s portfolio of large financing deals and positions the firm to capture further opportunities in the U.S. real‑estate market, where demand for high‑density, transit‑oriented housing continues to rise.
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