Developer The Daten Group secured a $15 million construction loan to build a seven-story, 46-rental unit building in downtown Hoboken, at 600 Harrison Street—one of the last viable spots for development in the tony Manhattan-adjacent city.
The 67,000-square-foot building was designed by Nastasi Architects and features a washer-dryer in each apartment, a gym, outdoor recreation space and a 32-spot parking garage, according to representatives for Daten.
First Niagara Bank provided the construction funds, according to the representative.
“Our new Hoboken building will set a new standard for luxury residential products by providing the finishes and services on par with top rental buildings in Manhattan,” said Daten Group President David Ennis via the representative. “These high-end units will meet the needs of young, affluent professionals seeking a more upscale living experience while offering a significant price discount relative to Manhattan.”
Prices will range from $2,900 a month for a one-bedroom, one bath, to $4,950 a month for a three bedroom, two-bath apartment.