200 Old Tappan Road
Senior Loan and Preferred Equity Financing Opportunity: Luxury Apartment Community in a High Barrier to Entry Market
BlueGate Partners, LLC (“BlueGate”) has been engaged on an exclusive basis by Hornrock Properties, LLC (the “Borrower” or “Sponsor”), to secure senior construction debt and mezzanine debt/preferred equity financing for the development of 200 Old Tappan Road, a 130-unit Class-A multifamily community, with over 20,000 square feet of amenity space, to be built in Old Tappan, New Jersey (the “Property”). Old Tappan, located 14 miles north of the George Washington Bridge in upper Bergen County, borders the New York hamlets of Pearl River and Tappan.
The borough of Old Tappan is known for its excellent public schools and warm suburban community, with family-oriented youth programming as well as outdoor summer concerts and plenty of recreational activities nearby including golf, hiking, fishing, and cycling.
The site plan is approved for the development of 130 apartments and 21,000 square feet of commercial space.
• Significant Local Expertise
• Extensive Sitework Performed
• Shovel-Ready Site
• High Barrier to Entry Market
• Proximity to Major Employment Hubs
• Excellent Connectivity to Manhattan and the Tri-State Region
• Thoughtfully-Designed Unit Layouts
• Outstanding Demographics
• Top Rated Schools
• Notable Retail Interest
• Walkability in the Suburbs
• Abundant Recreational Options