JLL secures financing for 67-unit luxury apartment community in Ho-Ho-Kus, NJ

Vertical Realty Capital & Maybern Realty introduce premium Bergen County rentals

Ho-Ho-Kus, NJ — JLL Capital Markets has arranged the financing of 619 North Maple Ave., a newly delivered 67-unit luxury apartment complex in Ho-Ho-Kus.

JLL worked on behalf of the borrowers, Vertical Realty Capital and Maybern Realty in securing the seven-year, fixed-rate loan through a life insurance company.

619 North Maple Ave., located in Ho-Ho-Kus, Bergen County, represents a best-in-class transit-oriented multifamily property differentiated by elite unit finishes and abundant community amenities. The development is strategically positioned just a quarter mile from NJ Transit’s Ho-Ho-Kus Station, providing access to New York’s Penn Station via a 50-minute train ride.

Ho-Ho-Kus is one of New Jersey’s wealthiest municipalities, reporting an average household income of $318,020 and an average home value of over $1 million in 2024. The borough benefits from its prime location in the center of Bergen County, where residents can utilize the county’s extensive highway and public transportation infrastructure including close access to the Garden State Pkwy., I-287, Rte-17 and Rte-208.

JLL Capital Market’s Debt Advisory team representing the borrower was led by senior managing director Jon Mikula, senior director Max Custer and analyst Michael Donohoe.

The property features 67 units comprising a mix of one- and two-bedroom apartments and includes luxury features such as walk-in closets, in-unit washers and dryers, quartz countertops, stainless steel kitchen appliances and private terraces for select units. Community amenities include a state-of-the-art fitness center, all-sport simulator, resident lounge, and pet spa.

The property also features 111 covered parking spaces with EV charging stations and a 3,500 square foot ground floor commercial suite leased to Harley Street Medical.

“The successful arrangement of permanent financing for 619 North underscores the continued strength of the Northern New Jersey multifamily market,” said Mikula. “The property’s ultra high-end design and amenity package coupled with the property’s transit-oriented location in one of Bergen County’s most affluent communities made this an extremely attractive financing opportunity amongst the lending community.”