Marcus & Millichap on Monday announced it sold an 11,120-square-foot mixed-use property in Hoboken for $6.1 million.
“Hoboken remains a highly desirable market for investors despite the challenging debt environment. Location, national retailers and strong apartment rental demand have helped sustain values in town,” Devin Perez, investment specialist at Marcus & Millichap, said. “When we brought the property to market, interest rates were still moving targets, and our team was able to produce over a dozen offers despite the turbulent market. Ultimately, the seller chose the most qualified buyer with the best terms at full price.”
Perez had the exclusive listing to market the property for the seller, along with M&M’s investment specialists Brent Hyldahl and Alan Cafiero. The trio also procured the buyer, a private investor.
The mixed-use property is located at 202-204 Hudson St., in downtown Hoboken, steps away from Washington Street and 0.2 miles from the Hoboken PATH station, offering direct access to Manhattan. The property comprises 15 units in total, including 13 residential apartments with an on-site laundry facility, and two ground-floor retail units: Jersey Mike’s Subs and J&J Body Works.
