A complex situated along the Hudson River in Weehawken officially changed hands as one of the biggest names in New York real estate has purchased a 617,000-square-foot building.
The Real Deal recently reported that real estate mogul Jeff Sutton has bought 1000 Harbor Boulevard for $219 million. Sutton, who founded Wharton Properties and owns many retail and mixed-use properties in Manhattan, partnered with institutional Korean investment firm KTB Securities on the deal.
A lease with corporate tenant UBS reportedly runs through 2035 at the property, the purchase of which was financed by a $131.4 million loan from Korean lender KB Kookmin Bank.
Offloading 1000 Harbor Boulevard was original owners Hartz Mountain, who developed the property in 1989 and have since added significant pieces to their planned Lincoln Harbor community.
Sutton’s latest purchase has plenty of areas with unobstructed Manhattan views and includes a Ruth Chris’ Steakhouse on the ground floor facing the Hudson River. An upcoming Blu Alehouse outpost is set to open at an adjacent property in the spring and 1000 Harbor Boulevard is also located across the street from the recently completed Hamilton Cove residential building.
The landscape around the office complex has evolved significantly in recent years, as the neighborhood has added developments like Harbor 1500 before welcoming a Whole Foods in 2019. More changes will be coming to a property just south of 1000 Harbor Boulevard, as Hartz Mountain is slated to bring another 259-unit residential complex to the area.