Marcus & Millichap has announced the sale of a multifamily property located at 719 Willow Avenue in Hoboken for $4.58 million. The brokerage firm, which specializes in investment sales, financing, research, and advisory services, facilitated the transaction on behalf of the seller.
Jonathan Zamora, first vice president investments at Marcus & Millichap’s New Jersey office, commented on the process: “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,” Zamora said. “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 property is situated six blocks from Hoboken’s Washington Street retail corridor and less than a mile from Hoboken Terminal. The terminal provides access to PATH trains, NJ Transit services, and NY Waterway Ferry service to Manhattan. The building includes about 10,300 rentable square feet with nine residential units and one commercial space—a newly renovated laundromat equipped with 60 machines. The location offers proximity to parks, schools, restaurants, Stevens Institute of Technology, and Hoboken University Medical Center.
Zamora further stated: “This transaction highlights our ability to match the right buyers with the right opportunities while creating competitive environments that drive pricing power for our clients.”
