Pierson Commercial, a leading retail-focused commercial real estate brokerage and advisory services firm with offices in New Jersey and New York City, has arranged the $2.475 million sale of a 3,400-square-foot commercial condominium at the newly constructed Wonder Lofts in Hoboken.
Pierson, led by Hudson County market expert Robert Mackowski, represented the seller, Prism Capital Partners. The lofts are located at 720 Clinton St. in Hoboken.
“As a result of Pierson Commercial’s marketing program, we were able to facilitate the sale of this new landmark, highly sought-after commercial condominium opportunity,” Mackowski said.
Featuring 83 first-class condominium-style units and a host of exclusive on-site and nearby lifestyle amenities, Wonder Lofts is the adaptive reuse of the iconic Wonder Bread factory into a boutique mixed-use community situated just west of downtown Hoboken, across from Hoboken High School. It stands at the corner of Clinton and 8th streets.
When the community welcomed its first residents earlier this year, it marked the successful completion of one of Hoboken’s most prominent industrial-to-residential redevelopment projects. Boasting more than 2 million square feet of retail space, Hudson County is the second-smallest of all the North Jersey retail submarkets, yet it records some of the highest population densities and walkability statistics in the nation.
Mackowski, one of New Jersey’s premier Gold Coast retail brokers, with a transaction record that includes arranging over 55 transactions and 140,000 square feet of both leases and sales within Hoboken and Jersey City alone, said the property drew great interest.
“Wonder Lofts’ central position within the city of Hoboken — along with this rare commercial condo acquisition opportunity — had tremendous appeal among a diverse pool of business types, which renders it a highly desirable business opportunity as well as a strong long-term investment for the buyer,” he said.