A project by Shai Benhamou, Michael Shahkoohi and Ramin Baratian is slated to bring 197 new apartments to 130 Avenue F in Bayonne. — Courtesy: Cushman & Wakefield
By Joshua Burd
The developers of nearly 200 new apartments in Bayonne have secured $58 million in construction financing for the project, in a transaction arranged by Cushman & Wakefield.
According to the brokerage team, Arbor Realty Trust provided the financing in connection with the site at 130 Avenue F, where the team of Shai Benhamou, Michael Shahkoohi and Ramin Baratian began construction last June. They’re now eyeing a 2026 completion date for the 197-unit project, Cushman said, with plans calling for a mix of upscale studio, one-bedroom and two-bedroom rentals and amenities.
“We’re proud to have structured a financing solution that effectively supports the sponsors’ vision and project goals,” said C&W’s Brad Domenico, who worked alongside colleagues Frank Stanislaski and Jack Subers in advising the borrowers.
The firm noted that the project, located off Route 440, will have amenities such as a rooftop deck, an outdoor pool, a fitness center, a tenant lounge, a theater room, a children’s playroom and a business lounge. The development will also have 230 covered parking spaces, bike racks, storage rooms and a ground-floor retail space, while renters will be within walking distance of the Hudson-Bergen Light Rail’s 22nd Street Station and Bayonne’s Broadway retail corridor.
“This project represents a major investment in Bayonne’s continued growth,” Benhamou said. “We look forward to delivering a high-quality development that adds value to the community, and we appreciate Cushman & Wakefield’s expert support in securing the financing to make it possible.”
