The refinance loan was for Phase 1 of the $2.5 billion waterfront neighborhood.

Last week, city officials, including Jersey City Mayor Steven Fulop, joined executives from the project development team BNE Real Estate Group, Hoboken Brownstone Co. and McKinney Properties at a ribbon-cutting ceremony to officially open The Enclave, a new 260 luxury apartment development.

“Technology has produced amazing tools, but it will never replace the effectiveness of a solid broker-client relationship.”

Designed by internationally-recognized architectural firm Arquitectonica, One Island Park will generate more than $2.9 million in annual tax revenue to the city on a parcel that currently generates $10,500 a year in taxes.