CBRE Tri-State Capital Markets Group has been named the exclusive sales agent for a development site located at 601-619 Newark St. in Hoboken, NJ. The parcel is fully approved for the construction of 60 luxury residential units, 4,300 square feet of rooftop amenity space and three street-level commercial spaces totaling 4,900 square feet, including a restaurant with 2,000 square feet of outdoor seating.
The CBRE team of Fahri Ozturk, Richard Gatto and Zach McHale are exclusively managing the marketing and disposition of the property on behalf of a private investor.
“This prime development site is located just minutes from the Hoboken Transit Terminal, providing a nine-minute commute via the PATH train to New York City,” said Ozturk. “The southwest neighborhood has several exciting new developments including South End Market & Lofts and The Boundary, as well as the $9-million renovation of Southwest Park. Upon completion, the combined projects will completely transform this section of Hoboken.”