September 5, 2025

BlueGate Secures $162 Million in Construction Financing for Hoboken Urby

BlueGate Partners, on behalf of Urby and Ironstate Holdings (together, the “Sponsor”), has secured $162 million in construction financing for the development of Hoboken Urby, a transformative mixed-use residential project in Hoboken, New Jersey. Commercial real estate finance firm PCCP provided the senior construction loan.

The 418,332-square-foot, 16-story development will feature 307 market-rate apartments and 38 affordable units, complemented by 17,425 square feet of retail space – including a signature café – and a 152-space parking garage. Residents will benefit from Urby’s distinctive lifestyle programming and best-in-class amenities, including extensive fitness facilities, communal vegetable gardens, vibrant gathering spaces, and thoughtfully designed work-from-home areas.

Located just blocks from Hoboken Terminal, the property will provide direct access to PATH service, reaching World Trade Center in 11 minutes and 33rd Street in 16 minutes, along with NJ Transit commuter rail and ferry service to Manhattan.

Urby and Ironstate rank among the most active and respected private real estate developers in the Northeast. Together, the companies employ over 200 professionals across offices in Hoboken and New York City, with a portfolio of approximately 17,000 residential units. Ironstate alone is one of Hoboken’s most prolific developers, with nine assets totaling 1,847 units under management and an additional 1,697 units in Downtown Jersey City.

“Hoboken Urby will redefine the residential experience in Hoboken, blending innovative design, high-quality finishes, and state-of-the-art amenities with unmatched connectivity to Manhattan,” said Mark DeLillo, Managing Partner at BlueGate Partners.

The BlueGate execution team included Mark DeLillo, Marc Schulder, Lee Spiegelman, Felipe Marin, Eli Zaoutis, and Jeremy Silber.