Jewish real estate developer Yisroel Berger has secured a $70 million loan after rebuilding a 25-story Newark apartment tower that had remained empty for more than a decade.
The building, now called Cosmo 440, contains 216 completely renovated apartments, including 26 affordable homes. Residents receive access to a concierge, fitness center, coworking lounge, playground and parking garage with electric-vehicle charging.
The new loan was provided by Dwight Investment Management and replaces earlier debt used to renovate and fill the building.