Edgewater, N.J. — The first phase of a $1 billion waterfront development along the Hudson River in Bergen County is moving forward after securing a $255 million construction loan, S3 Capital announced. The loan will finance the initial phase of the project at 615 River Road, which includes a 25-story luxury apartment building featuring 381 units.
“615 River will be an extraordinary living experience with stunning Manhattan and George Washington Bridge views via floor-to-ceiling glass in units that set itself apart from existing rental product in the marketplace,” said Bruce Sturman, founder and managing director of The Maxal Group, the project’s developer.
The first phase will include ground-floor retail space and parking for over 500 vehicles, providing residents with a seamless blend of convenience and luxury. The full buildout of the development will ultimately deliver approximately 1,200 residential units, combining market-rate and affordable housing options.
The Maxal Group, which has prior experience along the Hudson River corridor—including the 236-unit Harbor 1500 in Weehawken—is designing the Edgewater project to stand out through its transportation and public access features.
A new public ferry terminal will connect residents directly to Manhattan’s West Side, and the property will offer access to NJ Transit bus routes serving the Port Authority Bus Terminal, making commuting a convenient option.
Public amenities include a 2.5-acre waterfront park with 650 feet of river frontage, seamlessly connecting to the Hudson River Waterfront Walkway, an 18.5-mile promenade stretching from Fort Lee to Bayonne.
Architectural and design details are being led by FXCollaborative under architect Dan Kaplan, who is implementing a “notched” glass-and-corrugated facade inspired by the nearby Palisades. CetraRuddy is designing the interiors to evoke a resort-style experience with hardwood floors, custom cabinetry, quartz countertops, and spa-inspired bathrooms.
The building will also feature over 25,000 square feet of indoor amenities, including a fitness center, indoor spa with pool, sauna, salt room, golf simulator, sports court, private workspaces, and stadium-style screening room, complemented by landscaped rooftop terraces. Nearly all two-bedroom units will include walk-in closets, and more than one-third of units will feature flexible alcove or den spaces ideal for remote work.
With retail tenants like Whole Foods, Trader Joe’s, and Target within walking distance, the project aims to reshape Edgewater’s waterfront into a vibrant mixed-use community blending luxury, convenience, and public access.
The loan transaction was brokered by Galaxy Capital between S3 Capital and The Maxal Group.
“This project represents a transformative vision for the Edgewater waterfront, combining residential, retail, and public spaces in a way that serves both residents and the wider community,” officials said.
Construction on the first phase is expected to start immediately, with the luxury tower slated for completion in the coming years.
Originally reported by N. J. News Report.
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