BridgeInvestment provides $60M for 216-unit, Class A multifamily project, Cosmo 440, to cover the property’s construction completion and lease-up

3/27/2025

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MHN

• Subcategory: Capital Markets: Debt, MF: Market Rate

• Tag: Closing | Opening | Operations

• Additional Filters-Subcategory: Capital Market: Bridge Loan, MF: Highrise

• Company: BridgeInvest

BridgeInvest has closed on a $60 million loan for Cosmo 440, a new 216-unit, Class A multifamily tower in the historic Weequahic neighborhood in Newark, N.J. The loan is set to cover the property’s construction completion, reserves and lease-up.

Cosmo 440, located at 440 Elizabeth Ave., includes 48 one-bedroom, 120 two-bedroom and 48 three-bedroom apartments. The building features 192,765 rentable square feet.

The property, previously named Carmel Towers, is being redeveloped by YB Properties to include new infrastructure, elevators, redesigned floor plans, and upgraded common areas with new amenities.