Located at 30 Avenue at Port Imperial in West New York, RB3 is slated to include 426 luxury apartments across an 11-story waterfront building. — Rendering courtesy: JLL
By Joshua Burd
Canoe Brook Development has secured a $150 million construction loan for a planned 426-unit luxury apartment building along the Hudson River waterfront in West New York.
According to JLL, which arranged the transaction, Northwestern Mutual provided the financing in connection with the project at 30 Avenue at Port Imperial. Brokers say the building, known as RB3, will rise 11 stories and will be the only rental building within the acclaimed 200-acre, master-planned community known as Port Imperial that sits directly on the waterfront, providing residents with unencumbered views of the Midtown Manhattan skyline.
JLL senior managing directors Jon Mikula, Jim Cadranell and Steven Klein and Associate Ryan Carroll led the team that sourced the five-year, fixed-rate loan.
“JLL was pleased to represent Canoe Brook in obtaining construction financing for this exceptional project on the New Jersey waterfront,” Cadranell said. “Following JLL’s comprehensive marketing effort, The Northwestern Mutual beat out a strong field of contenders with an attractive fixed-rate option.”
Slated for completion in late 2026, RB3 will feature studio, one-bedroom and two-bedroom units with upscale designs, finishes and appliances, JLL said. Plans call for amenities such as a modern fitness center with five separate specialized rooms, a residential club room, private work offices and coworking spaces, a sundry shop, a dog salon, a pickle ball court and others.
JLL added that the site is less than three blocks from NY Waterway ferry service and about a third of a mile from the Hudson-Bergen Light Rail station, offering residents direct access to Manhattan and the surrounding area. Renters will also be minutes from the Lincoln Tunnel, Hoboken and the George Washington Bridge.
When complete, RB3 will be the newest addition to Port Imperial, which is home to more than 7,500 rental and for-sale apartments and townhomes, 150,000 square feet of retail space, two Marriott hotels and two public garages, JLL said. It also boasts more than 20 acres of public space, including parks, sports fields, outdoor retail plazas and a two-mile riverfront walkway.
