PCD Capital, Saber Real Estate to Develop 421-Unit Apartment Project in New Jersey

BOGOTA, N.J. — A subsidiary of New Jersey-based PCD Capital LLC and New York-based Saber Real Estate Advisors LLC will develop a 421-unit multifamily project in Bogota, located across the Hudson River from Harlem. The property will be situated on 13 acres and feature an 8,000-square-foot clubhouse with a fitness center and media room, as well as outdoor amenities such as a pool, dog park and outdoor grilling area. The building will also house 8,000 square feet of retail space. M&T Bank and BBVA USA provided a $60 million construction loan for the project. John Alascio and Sridhar Vankayala of Cushman & Wakefield arranged the financing. A construction timeline has yet to be established.

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