Marcus & Millichap, a leading commercial real estate brokerage firm, has completed the sale of a multifamily property located at 719 Willow Avenue in Hoboken for $4,580,000. The transaction was brokered by Jonathan Zamora, first vice president investments in the firm’s New Jersey office.
The sale of the property, which faced city-related challenges, was strategically handled to attract qualified buyers and maximize value.
“Our targeted marketing approach generated strong interest, ultimately creating a bidding war between three buyers,” Zamora said. This led to a noncontingent hard contract with a 45-day timeline, ensuring a swift and secure closing for the seller.
The property spans approximately 10,300 rentable square feet and includes nine residential units as well as a ground-floor commercial space. The commercial unit is a newly renovated laundromat with 60 machines. The location is highly desirable, situated just six blocks from Hoboken’s main retail corridor on Washington Street and less than a mile from Hoboken Terminal, which offers extensive transportation options to Manhattan via PATH, NJ Transit, and NY Waterway Ferry service.
The area is also surrounded by parks, schools, restaurants, and is close to the Stevens Institute of Technology and Hoboken University Medical Center, making it an attractive investment in a well-connected and vibrant community.
