Wonder Lofts at 720 Clinton St. in Hoboken — Courtesy: Prism Capital Partners
By Joshua Burd
Developers have sold the final penthouse at the acclaimed Wonder Lofts property in Hoboken, capping off a project that transformed a historic factory building into 83 upscale homes.
The team — Prism Capital Partners, Parkwood Development and Angelo Gordon — announced the milestone on Monday, noting that the three-bedroom, three-bathroom condominium sold for an undisclosed price. The transaction at 720 Clinton St. concludes a three-year sales effort that the developers have carried out alongside New York-based CORE Group Marketing, coming seven years after the firms joined forces to restore and convert what was the 109-year-old former Wonder Bread factory.
The newly sold home spans 2,001 square feet and has floor-to-ceiling windows, designer finishes and a 1,865-square-foot private wraparound terrace with panoramic views of the Manhattan skyline, according to a news release. It’s part of a unit mix at Wonder Lofts that includes two-, three-, four- and five-bedroom homes across 68 floorplans and private outdoor space extending up to 1,900 square feet, which Prism said has allowed growing families to stay in Hoboken while appealing to newcomers eager to be part of the Mile Square City.
“This milestone underscores the distinct appeal of Wonder Lofts, which reimagined a historic landmark into a luxurious residential community,” said Edwin Cohen, a principal partner with Prism Capital Partners. “From spacious interiors and outdoor spaces to a deep respect for Hoboken’s industrial past, Wonder Lofts resonated with buyers seeking refined homes that offer room for modern living — all within a vibrant urban setting.”
The developer noted that the Wonder Bread building was originally home to John Schmalz & Sons Model Bakery, established in 1865 by German immigrants, before housing the Continental Baking Corp. from the 1910s to the 1960s as part of an operation that produced Wonder Bread. After its acquisition in 2017, the development team worked with Hoboken-based MVMK Architecture + Design and Manhattan’s Workshop/APD to craft an adaptive reuse plan that honored the original seven-story red brick structure, adhering to the wishes of city officials and residents who valued its unique contribution to the community.
That meant carefully restoring elements such as intricate brickwork, archways, soaring ceilings and expansive windows to celebrate the building’s industrial legacy, the news release said. The 80-foot-tall smokestack now serves as the centerpiece of a landscaped common courtyard, while the original water tower has been restored and reimagined as a creative rooftop design feature, complete with an integrated bar beneath.
The team also infused modern design touches such as a sleek glass façade and light gray aluminum accents. In addition to the main building, the development includes a newly constructed, five-story property across Clinton Street that houses 15 homes, each with its own private backyard or rooftop cabana.
Amenities across the development include a rooftop with an infinity-edge pool, an outdoor bar beneath the restored water tower, lounge seating, gas grills, a seating area with a fire pit and 360-degree views of the Manhattan skyline, the news release said. Residents also have access to a second-floor indoor lounge with a double-sided brick fireplace, an open dining area, an entertainment kitchen and a billiards and game room, plus a split-level attended lobby, a children’s playroom, a fully equipped children’s art center, a modern fitness center with a yoga studio, a screening room and a pet grooming area.
Additionally, Wonder Lofts has on-site parking with electric vehicle charging stations.
“With its remarkable restoration and thoughtful design, Wonder Lofts preserves Hoboken’s rich history while continuing to contribute to the city through a modern residential use,” said Robert Fourniadis, Prism’s senior vice president for residential. “We are proud to have brought this exceptional project to life and to see it embraced by residents who will carry its legacy forward.”