HFF closes $263.8M sale of Soho Lofts in Jersey City

By Emily Bader
Jersey City | Apr 11, 2019 at 10:43 am

Soho Lofts, a 377-unit luxury apartment building in Jersey City, has sold for $263.8 million, Holliday Fenoglio Fowler L.P. announced Thursday.

Jose Cruz, Michael Oliver, Kevin O’Hearn, Stephen Simonelli, Jordan Avanzato and Mark Mahasky, all of HFF’s investment advisory team, represented the seller, AEW, and procured the buyer, Mack-Cali Realty Corp., acting on behalf of Roseland Residential Trust.

“Investors responded very favorably to this offering, given the lack of multihousing opportunities on the waterfront and the building’s high-quality construction,” Cruz said.  “Core offerings like Soho Lofts in core locations like Jersey City provide significant future capital appreciation along with current returns.”

The lofts are located at 273 16th St. and are within close access to Interstate 78, the Holland Tunnel, downtown Hoboken, the PATH train, ferry terminal and the NJ Transit Bus Terminal.

The property boasts 369 studio, one-, two- and three-bedroom units as well as eight townhomes. Units average 1,191 square feet and include amenities like gourmet kitchens and 10-foot high ceilings.

The building also has 17,300 square feet of ground floor retail and a 375-space parking garage. The property’s amenities include an infinity pool, outdoor TVs, a cinema room, garden, fitness center, yoga room, sauna, private party room, demonstration kitchen, arcade lounge, tech lounge, children’s playroom, dog grooming rooms, and more.

More from ROI-NJ on Soho Lofts:

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