Hoboken, NJ Pierson Commercial, a retail-focused commercial real estate brokerage and advisory services firm with offices in New Jersey and New York City, has arranged the $2.475 million sale of a 3,400 s/f commercial condominium at the newly constructed Wonder Lofts, located at 720 Clinton St. Pierson’s Hudson County market expert Robert Mackowski represented the seller, Prism Capital Partners, in the transaction.
“As a result of Pierson Commercial’s marketing program, we were able to facilitate the sale of this new landmark, highly sought-after commercial condominium opportunity,” said Mackowski.
Featuring 83 condominium-style units and a host of exclusive on-site and nearby lifestyle amenities, Wonder Lofts is the adaptive reuse of the Wonder Bread Factory into a boutique mixed-use community situated just west of Downtown Hoboken, across from Hoboken High School. It stands at the corner of Clinton and 8th St's.
When the community welcomed its first residents earlier this year, it marked the successful completion of one of Hoboken’s most prominent industrial-to-residential redevelopment projects. With more than 2 million s/f of retail space, Hudson County is the second smallest of all the North Jersey retail submarkets, yet it records some of the highest population densities and walkability statistics in the nation.
“Wonder Lofts’ central position within the city of Hoboken – along with this rare commercial condo acquisition opportunity – had tremendous appeal among a diverse pool of business types, which renders it a highly desirable business opportunity as well as a strong long-term investment for the buyer,” said Mackowski.
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