Redwood Realty Advisors brokers $3.3 million sale in Hoboken
Hasbrouck Heights, NJ — Redwood Realty Advisors announced the sale of 844 Park Ave. in the highly coveted Gold Coast town of Hoboken for a sale price of $3.3 million. 844 Park is a highly desirable location within minutes of multiple mass transit stations that provide access to World Trade, Downtown and Midtown Manhattan. The property is also just steps from iconic Washington Street, Hoboken’s retail thoroughfare. The property was comprised of two buildings featuring a total of 10 residential apartments with a unit mix of one-bedroom / one-bath, two-bedroom / one-bath and two-bedroom/ two-bath units with on-site parking. “Hoboken continues to see robust demand for quality, pre-war multifamily housing,” said Steve Matovski, director at Redwood Realty Advisors. In addition, 844 Park Ave. is a well-maintained asset in the heart of Hoboken that offers stable in-place cash-flow with strong rental upside, he added. Matovski represented both the buyer and seller in the transaction.