The Hazel, a newly finished luxury apartment community in Jersey City’s Bergen-Lafayette neighborhood, just got a serious financial lift. JLL Capital Markets arranged a $71.96 million refinancing for this transit-oriented development, which really says something about the property’s appeal and the buzz around Jersey City’s multifamily market along the waterfront.
The Hazel: A New Anchor for Bergen-Lafayette
You’ll find The Hazel at 89 Monitor St.—a seven-story building that’s quickly become a key player in Bergen-Lafayette’s transformation. It sits right next to the Liberty State Park Light Rail Station, which makes it a dream for renters who want modern design, upscale amenities, and easy access to work, fun, and culture.
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JLL Capital Markets locked in a five-year, fixed-rate balance sheet loan for The Hazel through Truist Bank. That kind of backing shows investors are betting on both the project and the neighborhood. JLL worked on behalf of Alpine Residential and Fields Grade, the development duo behind the building, who’ve been making waves in the area’s residential scene.
Phased Delivery and Thoughtful Design
The Hazel took shape in two phases, which matched the ebb and flow of demand and construction after the pandemic. The first phase brought 114 units in early 2022, giving the community a solid start. A second phase followed, adding 87 more apartments and wrapping up in late 2024, so now there are 201 units in total.
Out of those 201 apartments, 190 are market-rate, while 11 are set aside as affordable units. That mix aims to balance luxury with a nod toward broader housing access. You’ll find studios, one-bedrooms, and two-bedroom layouts—something for commuters, downsizers, and young families alike.
Amenities Tailored to the Modern Renter
The Hazel’s amenities go way beyond the basics, building a lifestyle-driven environment for residents. Common areas are designed for both downtime and getting things done.
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Rooftop Experiences and Work-From-Home Support
Residents can kick back in a sky lounge with sweeping views, or dive into a rooftop pool that makes summer feel like a vacation. For folks working remotely or on hybrid schedules, there’s a dedicated coworking space—no need to leave the building just to be productive.
The Hazel also features about 9,600 square feet of ground-floor retail, split into four suites. This retail space could bring in new conveniences, maybe even dining or services, adding another layer to Bergen-Lafayette’s live-work-play vibe.
Transit Connectivity and Access to Manhattan
Transit access is honestly one of The Hazel’s top selling points. It’s right next to the Liberty State Park Light Rail Station, so residents get quick links to the rest of Jersey City and the Hudson-Bergen Light Rail. If you’re heading into New York, two PATH hubs are nearby.
PATH Proximity and Regional Appeal
The Hazel sits just over a mile from the Grove Street PATH station and less than two miles from Exchange Place. Both are major gateways to Lower and Midtown Manhattan. That kind of connectivity—plus being close to Liberty State Park and downtown—makes Bergen-Lafayette a real contender compared to older neighborhoods along the Hudson waterfront.
JLL points out that Jersey City’s waterfront multifamily market has absorbed more than 10,900 units since 2018. During that time, average asking rents jumped 28%, now hovering around $4,350. The Hazel’s refinancing seems to fit right into that story of steady demand and rising values.
What The Hazel Means for Jersey City’s Growth
The refinancing of The Hazel shows that big lenders and investors still feel confident about Jersey City as a place to live. Bergen-Lafayette, which used to sit in the shadow of downtown, now stands out as a neighborhood with both character and convenience.
For people living here—or thinking about it—this growth actually changes things. New housing, fresh retail, and transit-focused projects mean more options when choosing where to stay in Jersey City, whether you’re dropping in or planning to stick around.
Visitors who used to focus only on Jersey City hotels downtown are starting to look at other neighborhoods, too. Projects like The Hazel help shape these new hotspots and give the area a different vibe.
More professionals and families are checking out things to do in Jersey City, from waterfront parks to local arts spaces. Bergen-Lafayette’s changes are just one part of the bigger story happening all over the city.
Transit keeps improving, so getting to Jersey City is easier from all over. The growing mix of housing and retail adds to the appeal of settling here for the long haul.
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Here is the source article for this story: JLL secures $72M refinancing for The Hazel in Jersey City
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