A private investor paid $2,175,000 for a 6,400-square-foot building that is slated for redevelopment in Downtown Hoboken, brokerage firm Marcus & Millichap announced on Thursday, April 30.
Located at 106 Willow Avenue, four blocks from Hoboken’s retail corridor on Washington Street, the vacant four-story brick property now is configured for eight one-bedroom/one-bath units, according to the broker. The 6,400-square-foot property sits on a 25-by-100-foot lot.
“With its underlying fundamentals and walkable retail base, Hoboken continues to attract strong interest from the investment community throughout the tri-state area,” Devin Perez, Marcus & Millichap associate director of investments, said in a statement. “We partnered with the Ten-X auction platform and generated significant activity on this vacant eight-unit building, ultimately securing an all-cash buyer within two weeks of marketing the property.”
