Hackensack, NJ – Macallan Capital Partners announced today that it arranged $70 million in financing for The Brick of Hackensack, an upscale mixed-use residential high rise in downtown Hackensack, NJ.
The Macallan Capital Partners team, led by Laurent R. Gray, CEO and Marco Howington, Partner, arranged the refinancing package as exclusive advisors, with PNC Bank providing the funding.
The Brick offers 377 modern residences and 8,000 square feet of ground floor retail on Main Street. The building features a mix of studio, one and two-bedroom units as well as a lap pool, gym, yoga studio, and a top floor lounge with a skyline view of Manhattan. The property has experienced strong demand, with a consistent 98% occupancy.
“This financing emphasizes the tremendous progress at The Brick of Hackensack and the market’s strong confidence in our vision,” said James Tseng, owner representative of The Brick. “We are very pleased with the experienced and knowledgeable team at Macallan.”