A model unit at The Harper at Harmon Meadow — file photo
By Joshua Burd
New York Life Real Estate Investors has completed $115 million in financing for Hartz Mountain Industries and its newly completed, 469-unit apartment complex in Secaucus.
The New York Life Insurance Co. affiliate announced this week that it has originated the mortgage for the project known as The Harper at Harmon Meadow, which opened in late 2017. Located at 100 Park Plaza Drive, the property sits within the well-known, master-planned Harmon Meadow complex near Route 3 and the New Jersey Turnpike, providing a long-awaited residential option within the vast mix of shops, restaurants and office space.
A Hartz Mountain affiliate owns the project, New York Life said. The announcement comes just over two months after the insurance giant closed on $31 million in financing for Hartz’s 140,000-square-foot office building in Jersey City known as 15 Exchange Place.
“We are pleased to work with Hartz Mountain Industries again to provide the financing for this attractive multifamily project,” said Keith Duane, director in New York Life Real Estate Investors’ Northeast regional office. “The property’s location in the mixed-use Harmon Meadow development and the nearby transportation linkages create an outstanding live-work-play environment with excellent access.”