Kislak sells commercial condo in Hoboken for $6.6M

By Emily Bader
Hoboken | May 15, 2018 at 11:53 am

Woodbridge-based The Kislak Company Inc. announced Tuesday the $6.6 million sale of a 14,000-square-foot commercial condominium in Hoboken.

Kislak marketed the portfolio on 222 Washington St. exclusively. Scott Davidovic, senior vice president, represented the seller and secured the buyer.

“The seller was the original developer of the property and felt the sale came at the right time due to the relatively low interest rate environment and strong demand for investment properties in Hoboken,” Davidovic said. “The property offered upside in the office rents and potential with the retail space.”

The condo has approximately 7,500 square feet of storefront retail space with frontage on Washington Street and another 6,500 square feet of occupied office space on the lower level. Baby Gap currently occupied about 60 percent of the retail space.

 

Emily Bader | ebader@roi-nj.com | emilybader