Cushman & Wakefield arranges $9M sale of multifamily asset in Hoboken

Cushman & Wakefield announced today that the real estate services firm has arranged the sale of The Georgian, a 16-unit multifamily asset located at 205-209 Madison Street in Hoboken. The final sale price was $9,000,000.

Cushman & Wakefield’s Andrew Schwartz, Jordan Sobel, André Balthazard and Brian Whitmer represented the seller, H. Minks LLC, and procured the buyer, TH Start, in the transaction.

“The Georgian is in a fantastic location that offers unparalleled access to surrounding neighborhoods and New York City. The location coupled with the property’s value-add potential made this a very compelling acquisition,” said Schwartz. “This was a record in terms of amount of investor activity and shows a true sign of how the Gold Coast apartment fundamentals and investment demand are back, stronger than before the onset of the pandemic.”

The Georgian is a five-story, 16-unit multifamily property built in 2001 by Herbert and Georgiana Minks. The asset consists of four one-bedroom units and 12 two-bedroom units and includes on-site covered parking, in-unit washers and dryers, and a landscaped courtyard.

Situated in the heart of Hoboken, the property is within walking distance to the New Jersey Path Station, allowing direct access to New York City.