Hoboken Building Near Trader Joe’s Site Sells For $77M

HOBOKEN, NJ — Holliday Fenoglio Fowler announced Tuesday that it has closed the $77 million sale of The Metropolitan, a 128-unit apartment community in Hoboken.

According to a company news release, Holliday Fenoglio Fowler marketed the property exclusively on behalf of the seller, AEW Capital Management, L.P., acting on behalf of one of its institutional separate account clients.

A “joint venture between Advance Realty and a global investment group” purchased the property, the news release stated.

Located in the northwest portion of Hoboken at the intersection of Clinton and Grand Streets, The Metropolitan consists of two four-story buildings situated above one level of parking and retail. The property includes one-, two- and three-bedroom luxury units and features amenities such as a fitness center, resident lounge, activity room with billiards, TV and bar, a concierge system and a landscaped courtyard.

The property’s 2,000 square feet of ground-floor retail space is occupied by an onsite dry cleaners and nail salon, and is located near the much-lauded, soon-to-come Trader Joe’s supermarket.

• See related article: Hoboken Trader Joe's Building Opens
• See related article: Hoboken Trader Joe’s Coming In 2017: Willow Avenue and 14th Street

Photo: Holliday Fenoglio Fowler

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