HOBOKEN — A building at 1000 Jefferson St. sold in 2008 to an investor for $116.2 million, and now, its “sister property” a few blocks away at 800 Madison St. is also up for sale. The sellers are Tarragon Development, one of the developers who got the city’s nod several years ago to build in the northwest redevelopment zone. They plan to accept bids starting Aug. 19.
According to the website globest.com, Cushman & Wakefield is marketing the 217-unit, five-story complex. The 1.84-acre property takes up a full block from Madison to Monroe Street, Eighth to Ninth Streets.
The apartments are “99 percent leased” according to a release.
The story notes, “Completed in late 2008, 800 Madison has one of Hoboken’s few private pools and also offers a community room and private gated patios.” It also notes that the other property at Jefferson Street continues to “do well.”
Tarragon filed for bankruptcy in January of 2009, according to reports in Business Week and elsewhere (see related stories linked below).
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