Bravo Property Trust Lends $68M on New Jersey Waterfront Apartments

Skyrock Capital has landed $68 million of construction financing for the development of a luxury waterfront multifamily project in Bayonne, N.J., Commercial Observer has learned.

Bravo Property Trust supplied the loan for Skyrock’s planned 180-unit Bayonne Luxury Waterwalk apartment development. Elan Goldberg, co-head of originations at Bravo, originated the debt. 

“Bayonne’s waterfront is attracting serious long-term investment, and  we were proud to give this sponsor the certainty to build,” Aaron Krawitz, CEO of Bravo Property Trust, said in a statement. 

Skyrock, under the entity Bayonne Luxury Waterwalk, acquired the 2.3-acre waterfront site along Newark Bay at 219 West Fifth Street for $4.55 million in 2019, Jersey Digs previously reported. Two floors of the six-story building will be utilized for parking with the property featuring amenities that include a swimming pool and fitness center, according to Jersey Digs.

Skyrock Capital did not immediately return a request for comment.

Andrew Coen can be reached at acoen@commercialobserver.com.