Along Hoboken’s bustling Washington Street, deals on two mixed-use properties have been finalized. In separate transactions, real estate brokerage firm Marcus & Millichap handled the sale of 420 Washington Street and 1004 Washington Street. Both properties feature ground-floor retail spaces and residential units.
The Marcus & Millichap team of Alan Cafiero, Devin Perez, and Dean Matuszewicz brokered both sides of the $2,850,000 sale of 420 Washington Street. The same trio of M&M investment specialists repped the seller and secured the purchaser in the $2,951,000 deal for 1004 Washington Street.
“Washington Street continues to distinguish itself as one of the most sought-after retail corridors in the state, driven by its dense residential population, strong pedestrian traffic, and limited supply of core mixed-use buildings,” commented M&M’s Devin Perez, Associate Investments. “Both properties attracted significant interest from investors seeking durable street-level retail with residential components in a high-barrier-to-entry market.”
420 Washington is a short walk from the Hoboken PATH Station. The 3,950-square-foot, three-story property houses two apartment units and a ground-floor business. The retail space has long been occupied by Delite Wine & Spirits. Just a few blocks up Hoboken’s primary retail corridor, 1004 Washington is a four-story, 6,900-square-foot building with four residences and a first-floor retail space. Yash Liquors has been a longtime tenant.
