90 Hudson St. in Jersey City — Courtesy: JLL
By Joshua Burd
The holders of a nonperforming $130 million loan for a Jersey City office building are hoping to sell the debt after foreclosing on the property earlier this year.
That’s according to JLL, which is marketing the note secured by the 432,284-square-foot complex at 90 Hudson St. The brokerage team is currently soliciting offers to purchase the loan, touting the potential to reposition a site that’s directly across from New York City and steps from the Exchange Place PATH station.
“This unique investment offers investors the opportunity to acquire the loan — and with it, control of an irreplaceable Hudson River waterfront asset, with an advanced path to ownership,” JLL wrote in its marketing materials late last month.
The team, which includes the firm’s Jose Cruz, Jeremy Neuer and Michael Kavaler, noted that a court-appointed receiver from Colliers has been managing 90 Hudson and collecting rents since
since November 2025. This past March, the loan holders secured a final judgment of foreclosure for the 38 percent leased property.
The proceedings followed the departure of Lord Abbett & Co. LLC, the financial services firm, which occupied some 239,000 square feet at the building for more than two decades before moving in late 2024 to nearby 30 Hudson St. As JLL noted, 90 Hudson now has both a “rare, large-format contiguous availability for corporate repositioning” and a location within a “rapidly changing surrounding landscape with growing multifamily environment.”
