Cushman and Wakefield announced today that the real estate services company has arranged the sale of The Georgian, a 16-unit multi-family asset located at 205-209 Madison Street in Hoboken. The final sale price was $9,000,000.
Andrew Schwartz, Jordan Sobel, André Balthazard and Brian Whitmer of Cushman & Wakefield represented the seller, H. Minks LLC, and engaged the buyer, TH Start, in the transaction.
“The Georgian is located in a fantastic location that offers unparalleled access to surrounding neighborhoods and New York City. The location coupled with the value potential of the property made it a very compelling acquisition,” said Schwartz. “This was a record high in terms of investor activity and shows a real sign of how Gold Coast apartment fundamentals and investment demand are back, stronger than before the start. of the pandemic.”
The Georgian is a five-story, 16-unit multi-family property built in 2001 by Herbert and Georgiana Minks. The asset consists of four one-bedroom units and 12 two-bedroom units and includes on-site covered parking, in-unit washers and dryers, and a landscaped yard.
Located in the heart of Hoboken, the property is within walking distance of the New Jersey Path station, allowing direct access to New York.