Marcus & Millichap brokers sale of Hoboken mixed-use building

HOBOKEN, NJ — Marcus & Millichap announced the sale of a mixed-use retail and residential building in Hoboken, for $3,470,000.

“This marks our third successful closing on Washington St. in the past 60 days,” said Devin Perez, associate director investments. “Investor demand remains strong for well-positioned mixed-use properties along this premier retail corridor, supported by Hoboken’s underlying fundamentals and long-term retail outlook.”

Perez, Alan Cafiero and Brent Hyldahl, investment specialists in Marcus & Millichap’s NJ office, represented the private seller in the transaction.

The four-story property is at 312 Washington St. and consists of three units, including one ground-floor retail space and two residential apartments. Built in 1920, the building totals 3,550 s/f.