A large crane currently towers over 1101 Grand Street in uptown Hoboken, but both it and the surrounding construction vehicles will soon be replaced by brand new apartments and a retail storefront that’s currently seeking a tenant.
The development, designed by Lee Levine Architects and being built by North Bergen-based Molfetta Corporation, will eventually be a five-story, 16-unit residential building with a 1,350-square foot storefront at the corner 11th and Grand Streets. Prime Real Estate Group has already listed the retail portion of the building for lease, also creating a few mock-ups of what the space could look like in an effort to attract a tenant early.
Listing agent Tony Soares says the developers welcome a food use at the storefront and would ideally like to see a café, bakery, or gourmet shop opening in the space, specifically citing Bwe Café as the type of establishment they hope to draw into the neighborhood. Any tenant that signs on to open their business at 1101 Grand during the building’s early marketing phase will be able to customize where any potential needed utilities would be set up during the build-out of the storefront.
“Signing a tenant early will allow everybody to work in tandem on the fit-out of the retail space, plus it makes it easier for Certificate of Occupancy purposes later down the line,” Soares says.
Regardless of who signs on to open in the building’s retail, the storefront will have large windows and a modern glass design, providing some great natural light. It’s asking $48/square foot and the building’s construction is anticipated to finish up in the Fall later this year.
While Grand Street isn’t typically viewed as one of Hoboken’s high-traffic pedestrian corridors, Prime Realty says that there are over 1,150 proposed and under construction apartments in the area. Within several blocks of 1101 Grand, Bijou Properties is currently hard at work constructing a 44-unit rental building at 1410 Grand Street and a trio of developments in the vicinity of 8th and Grand Streets, two of which have broken ground, will add 117 residential units and 4,405 square feet of retail to the street.
Interested in starting Hoboken’s next great business in a growing neighborhood? Contact [email protected] or reach out at (201) 320-0642 to learn more about 1101 Grand Street.
