One of Hoboken’s most-storied buildings has completed its transformation from an abandoned Wonder Bread bakery to luxury condominiums. The Wonder Lofts’ development team of Prism Capital Partners, Parkwood Development, and Angelo Gordon announced the sale of the last available residence, a 2000-square-foot penthouse unit—the full sell-out of 83 high-end units, crowns a massive redevelopment project that began in 2017.
“This milestone underscores the distinct appeal of Wonder Lofts, which reimagined a historic landmark into a luxurious residential community,” said Edwin Cohen, a principal partner with Prism Capital Partners. “From spacious interiors and outdoor spaces to a deep respect for Hoboken’s industrial past, Wonder Lofts resonated with buyers seeking refined homes that offer room for modern living—all within a vibrant urban setting.”
The historic building at 720 Clinton Street, long known locally as the Wonder Bread building, started out as the John Schmalz & Sons Model Bakery, first established in 1865. For much of the first half of the 20th century, the imposing 7-story brick building housed the Continental Baking Corporation.
From the 1910s until the 1960s, Continental baked and shipped the world-famous Wonder Bread. After Continental closed up shop on Clinton Street, various companies used the building for manufacturing and warehouse space. The building slowly fell into disrepair until the development team acquired the property in 2017.
With the expert help of Hoboken-based MVMK Architecture + Design and Manhattan’s Workshop/APD, the development team reimagined the Wonder Bread Building as a modern residential community that preserved the history and beauty of the original structure. The team restored the beautiful archways, high ceilings, massive windows and fine brickwork, plus added modern design elements that enhance the building’s original design.
A center courtyard is graced by the towering smokestack, and the water tower on the roof has been restored with a bar underneath. Residents enjoy a broad assortment of amenities including a rooftop infinity pool, views of Manhattan, fitness center, game room, on-site parking, EV charging stations, children’s playroom, and much more.
Wonder Lofts began sales in late 2021, offering two-, three-, four-, and five-bedroom homes, many with private outdoor space. The development also includes 15 units across the street at 731 Clinton. The new five-story building, constructed on the site of the stable once used for wagons and horses that transported Schmalz’s Jersey Cream Malt Bread. New York-based CORE Group Marketing handled Wonder Lofts’ sales program.
“With its remarkable restoration and thoughtful design, Wonder Lofts preserves Hoboken’s rich history while continuing to contribute to the city through a modern residential use,” said Robert Fourniadis, SVP – Residential of Prism Capital Partners. “We are proud to have brought this exceptional project to life and to see it embraced by residents who will carry its legacy forward.”
