Marcus & Millichap closed the sale of 719 Willow Ave., a multifamily property in Hoboken, NJ, for $4,580,000. The property is six blocks from Hoboken’s Washington Street retail corridor and less than a mile from Hoboken Terminal. It includes approximately 10,300 rentable square feet across nine residential units and one ground-floor commercial space.
“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 VP investments in Marcus & Millichap’s New Jersey office.
He continued, “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.”
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