CBRE Tri-State Capital Markets Group has been selected as the exclusive sales agent for a development site in Hoboken, NJ. The property, located at 601-619 Newark St., is fully approved for the construction of 60 luxury residential units and three street-level commercial spaces totaling 4,900 square feet. Additionally, there will be 4,300 square feet of rooftop amenity space including a restaurant with outdoor seating.
The marketing and disposition of this prime development site is being managed exclusively by CBRE’s team consisting of Fahri Ozturk, Richard Gatto and Zach McHale on behalf of a private investor.
According to Ozturk: “This highly desirable location offers easy access to New York City via the Hoboken Transit Terminal which can be reached in just nine minutes via PATH train. The southwest neighborhood is experiencing significant growth with new developments such as South End Market & Lofts and The Boundary along with Southwest Park undergoing a $9-million renovation project. Once completed these projects will completely transform this section of Hoboken.”
