263 Hackensack Street Update 01/24/25

Dev Lands $25M Loan for East Rutherford Multifamily Project

Developer,

, recently secured a $25 million loan for a 5-story, multifamily development, set to rise at 263 Hackensack Street in East Rutherford, New Jersey. Issued by ConnectOne Bank, this influx of capital will help to fund construction costs.

Known as "Parker East", the building will contain

residential units. Plans also call for both an enclosed parking garage and external parking, with enough room for vehicles altogether.

The structure will total

square feet and is serving as the general contractor. The project site spans square feet and construction broke ground back in December of 2024.

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