TYKO Capital loan to facilitate the construction of The Greyson, a class A mixed-use tower
Jersey City, NJ —Walker & Dunlop, Inc. announced that it has arranged a $245 million loan from TYKO Capital to facilitate the construction of The Greyson, a 28-story, 622-unit class A mixed-use tower that will be located in Jersey City.
The Walker & Dunlop New York Capital Markets team, led by Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Jordan Casella, and William Herring, acted as exclusive advisors to the client, Nasser Freres, and identified TYKO Capital, which is backed by Elliott Investment Management, as the lender. With the building already nearing top-off, the loan proceeds will fund the balance of costs to complete.
The property will rise on a 0.7-acre site in Journal Square. The development will feature 389,720 rentable s/f of residential space, offering a diverse mix of studios, 1-bedroom, 1-bedroom + den, 2-bedroom, and 3-bedroom apartments. Additionally, the project includes 44,551 rentable s/f of office space and 2,965 rentable s/f of retail along the newly extended Homestead Ave.
“The Greyson will redefine luxury living in Jersey City, appealing to renters seeking exceptional amenities and prime connectivity as a high-value alternative to Manhattan,” said Michael Sokoloff, a partner at Nasser Freres. “We are thrilled to partner with Walker & Dunlop and TYKO Capital on a project that will not only enhance the skyline but also contribute to the vitality of the Journal Square community.”
The Greyson will boast an array of cutting-edge amenities, including a rooftop pool with Manhattan skyline views, state-of-the-art fitness center, immersive virtual reality and sports rooms, and thoughtfully designed communal spaces. Its strategic location offers residents seamless access to the Journal Square Transportation Center, ensuring connectivity across NJ and to downtown and midtown Manhattan. The property will also enhance the neighborhood with a new public pathway linking Newark Ave. and Pavonia Ave., creating a vibrant and accessible urban experience.
“Jersey City has undergone a remarkable transformation over the past decade, becoming a magnet for residents seeking competitively priced, spacious rental options compared to NYC,” said Keith Kurland, senior managing director and co-head of NY Capital Markers at Walker Dunlop. “We are proud to work alongside Nasser Freres to bring The Greyson to life and further elevate the neighborhood.”