Volkswagen’s North America COO Lists Hoboken Townhome for $5.25 Million

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Volkswagen North America CEO lists luxury Hoboken townhome at 113 Grand Street for $5.25 million. Photo via Zillow.

An eye-popping property hoping to spur one of the highest sale prices in the history of the Mile Square City has hit the market and could set a record for the neighborhood if a buyer is found.


The Wall Street Journal is reporting that Johan de Nysschen, the chief operating officer of Volkswagen Group North America Region, has listed his Hoboken townhouse for $5.25 million. de Nysschen purchased the property at 113 Grand Street back in 2015 for $3.5 million before embarking on an extensive renovation to the 6,000 square feet of indoor space.

Several apartments were combined to form the current living space at the building, which dates to the late 1800s. The renovation saw skylights added to the center of the property and cost about $2.5 million, according to listing agent Sharon Shahinian of Brown Harris Stevens.

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Kitchen. Photo via Zillow.

The revamped home sports an elevator to help access the four bedrooms and four and a half bathrooms spread throughout the property’s four floors. de Nyscchen compared the space to a resort when discussing it with the Journal, as the property features an indoor pool, a sauna, a gym, four outdoor terraces totaling 1,500 square feet, a 500-bottle wine wall, and a roof deck complete with fireplace.

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Roof deck. Photo via Zillow.
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Terrace. Photo via Zillow.
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Bedroom. Photo via Zillow.
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Bath. Photo via Zillow.

Other draws of the townhouse include a game room and a private four-car garage, an amenity almost unheard of in Hoboken. Taxes run $35,970/year at the property, which is located about half a mile west of the Hudson River.

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Four-car garage. Photo via Zillow.

If the home sells for close to the asking price, it will be among the most expensive single-family residences sold in Hoboken. The highest sale price in the city’s history was a $6.5 million townhouse at 504 Hudson Street that changed hands in 2016, although that property was just two blocks from the city’s waterfront.

Hoboken has had a few other high-profile properties hit the market in recent years that include Eli Manning’s former pad in the Hudson Tea Building. The former New York Giant initially listed his condo for $5.2 million before selling it in 2018 for a then-record $3.55 million. That sum was bested a year later when a Maxwell Place apartment once home to former Governor Jon Corzine sold for $3.89 million.

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6 COMMENTS

  1. So according to the above article de Nysschen bought the property for $3.5 mil and added $2.5 mil for renovations and skylights for a total of $6mil and is now selling for $5.25 mil? Huh? ………So this little jewlbox of a property actually decreased in value by almost a million dollars in the last 6 years? Sounds wack……….either that or he’s not a very good businessman…….I don’t mean to sound too sniffy, but to me the decor, furnishings, and art (or lack of) looks bland as heck.

  2. Not So Fast, This Automotive May know More Than Most?
    Hot Marketplace has been dampened by COVID-19.
    Would be interested in seeing a real appraisal addressing the Value Issues at hand.

  3. Sounds like the $2.5 million in updates were to customize to his tastes. Future buyers may not see added value in some of these updates hence why the math isn’t 1 + 2 = 3. Turning the ground floor into a pristine showcase garage is one example.

  4. Gorgeous home! There are dozens of factors, if not more, that drive the price of homes. It’s not at all uncommon for a homeowner to design to their own tastes to some degree and not get a full return on that investment. We all make quality of life choices that are more about our personal enjoyment of our life and not 100% investment-focused. Kudos to the seller for a job well done on multiple fronts. Best wishes to everyone including the seller, their agent, and the eventual buyer. This is an amazing property! I can easily see the right buyer finding this to be an incredible deal

  5. So 5 million is an an “incredible deal” to live in a flood zone on Grand St directly across from an extra large parking lot which abuts a senior housing complex?……..I guess if you love it and want blow your wad then go for it. There are a lot more photos on line to give one a better idea of what’s being offered, however, in my view the whole shebang is a bit underwhelming. The place has some nice touches but that massive metal staircase is not one of them, both visually and acoustically. Ditto for the wine wall. So after a few glasses do you summon your sommelier to climb the ladder to source your favorite Chateau Lafite? The rest of it is a bit on the plain and charmless side, but what’s another million or so for a re-do.

  6. Great property, however the location is bad! This property should be on Hudson Street, along with the brownstones; this is not a brownstone but a modern version of a 3 story attached building.

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