15 Exchange Place in Jersey City
By Joshua Burd
Hartz Mountain Industries has landed $31 million in financing for a well-known office building on the Hudson waterfront, thanks to a loan provided by New York Life Insurance Co.
The insurance giant — through its New York Life Real Estate Investors affiliate — announced Tuesday that it closed on the mortgage loan for 15 Exchange Place in Jersey City. Located just south of the Exchange Place PATH station, the 11-story building houses some 140,000 square feet of office space directly overlooking the Hudson River.
An affiliate of Secaucus-based Hartz Mountain owns the building, which also offers quick access to the Hudson-Bergen Light Rail and ferry service to Manhattan.
The complex is home to tenants such as Merrill Lynch Wealth Management and Deloitte.
“New York Life is pleased to expand our relationship with Hartz Mountain Industries Inc. and to provide the financing for this asset,” said Keith Duane, director in New York Life Real Estate Investors’ Northeast regional office. “The property’s location, proximity to multiple forms of mass transit, efficient floorplates and incredible views of Manhattan make it an irreplaceable asset on the Jersey City waterfront.”
