Harborside 5

Northwind Group extends a $65 million loan to 601W Companies for Harborside 5, a 33-story Class A office tower in Jersey City, signaling renewed confidence in the office market. 601W recently acquired the building for $85 million, expanding its Harborside portfolio. This move comes amid a broader office sector decline, with lenders cautious due to vacancies and remote work. However, the decreased value of office properties has prompted some lenders, like Northwind, to re-enter the market. Harborside 5 boasts over 1.5 million square feet of space, stunning Manhattan views, and proximity to transit.