Marcus & Millichap Closes Mixed-Use Sales in Hoboken

Marcus & Millichap arranged the sale of two mixed-use properties located along Washington Street, Hoboken, NJ’s primary retail corridor. The total sale price was $5,801,000.

The first transaction involved the sale of 420 Washington St., a three-unit mixed-use property. Alan Cafiero, Devin Perez and Dean Matuszewicz, investment specialists in Marcus & Millichap’s New Jersey office, represented the seller and procured the buyer in the $2,850,000 transaction. 

In a separate deal, Marcus & Millichap arranged the sale of 1004 Washington St., a five-unit mixed-use property. Cafiero, Perez and Matuszewicz represented the seller and buyer in the $2,951,000 deal. 

“Washington Street continues to distinguish itself as one of the most sought-after retail corridors in the state, driven by its dense residential population, strong pedestrian traffic, and limited supply of core mixed-use buildings,” said Perez, associate investments. “Both properties attracted significant interest from investors seeking durable street-level retail with residential components in a high-barrier-to-entry market.” 

Located four blocks from the Hoboken PATH station, 420 Washington St. spans 3,950 square feet. It includes a ground-floor retail space and two residential apartments above. 1004 Washington St. is a four-story, 6,900-square-foot mixed-use building with one ground-floor retail unit and four residential apartments. 

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