Spirit Bascom Buys $17M Apartments Near Hoboken's Columbus Park

HOBOKEN, NJ — A six-story apartment building near Columbus Park in Hoboken has sold for $17.65 million, according to realtors.

Real estate broker firm Holliday Fenoglio Fowler, L.P. (HFF) recently announced that Columbus Park Apartments, a six-story, 37-unit apartment property at 1024 Clinton Street - located one block from Columbus Park – was sold to Spirit Bascom Ventures, a joint venture between Spirit Investment Partners, LLC and The Bascom Group, LLC.

The seller was not identified in a news release about the transaction.

The purchase took place free and clear of existing debt, HFF stated.

“The strength of the Hoboken rental market continues to attract aggressive capital,” senior director Steve Simonelli said. “The property was highly sought after due to the irreplaceable location along with clear upside in the rents.”

HFF wrote:

“Columbus Park Apartments encompasses a mix of studio, one- and two-bedroom units, many with loft or duplex layouts. In addition, the property includes a 37-space secured parking garage and a detached three-story townhome unit with a private garage parking space and roof deck. Columbus Park Apartments is located at 1024 Clinton Street, one block from Columbus Park, which includes picnic areas, a dog park, ball fields and playgrounds. The property is also located along the bus route to Port Authority, which provides residents with direct commuter access to Manhattan.”

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Photo: HFF