AIRN Management has successfully sold the former Water Music Studios located at 921-931 Madison Street in Hoboken, New Jersey for a total of $8.5 million. This property is part of a larger portfolio consisting of seven properties situated along the highly coveted New Jersey Gold Coast area.
The new owner has plans to develop an upscale residential complex comprising of 36 units and ground-level commercial space, taking advantage of its prime location near transportation hubs and prominent retailers.
This transaction was facilitated by CBRE’s team composed of Fahri Ozturk, Richard Gatto, Zach McHale, and Jeff Babikian who were appointed by a court-appointed restructuring management team specifically for this purpose.
