$25M construction loan drives boutique rental in East Rutherford

The Parker East Breaks Ground At 263 Hackensack Street

Vango Development has broken ground on The Parker East, a five-story mixed-use building at 263 Hackensack Street in East Rutherford, New Jersey. Designed by MHS Architecture, the project plans to yield 86 rental apartments and approximately 1,100 square feet of ground-floor retail space. Construction is backed by a $25 million loan from ConnectOne Bank, which was finalized in January 2025. Completion is anticipated by June 2026.

$25M construction loan drives boutique rental in East Rutherford

The basics: Vango Development begins construction on The Parker East $25M loan from ConnectOne Bank funds the project 86 luxury apartments and 1,100 sq. ft. of retail planned Rooftop terrace, fitness center and dog spa among amenities Vango Development officially broke ground on a new five-story mixed-use building in East Rutherford. Rising at 263 Hackensack St., The Parker East will add 86 luxury rental residences along with approximately 1,10…