**Hoboken Multifamily Property Sells for $4.58M Following Bidding War**
Marcus & Millichap has announced the successful sale of a multifamily property located at 719 Willow Avenue in Hoboken, New Jersey, for a purchase price of $4,580,000. The building, which spans approximately 10,300 rentable square feet, features nine residential units along with a ground-floor commercial space.
Situated just six blocks from Hoboken’s Washington Street retail corridor and under a mile from Hoboken Terminal, the asset attracted strong buyer interest due to its prime location and investment potential.
“The seller engaged us with the goal of divesting the asset after challenges with city-related matters. Leveraging our deep market expertise and investor network, we positioned the property to reach the right qualified buyers,” said Jonathan Zamora, First Vice President of Investments at Marcus & Millichap’s New Jersey office.
Zamora added, “Our targeted marketing approach generated strong interest, ultimately creating a bidding war between three buyers. This maximized value for the seller and ensured a smooth closing with a noncontingent hard contract, a 45-day timeline, and the deposit released at contract signing.”
The sale reflects continued demand for well-located multifamily assets in transit-oriented urban submarkets like Hoboken.
