409 14th St. in Hoboken — Courtesy: Katz & Associates
By Joshua Burd
A local church has purchased a 20,000-square-foot former movie theater building in uptown Hoboken, in a newly announced transaction by Katz & Associates.
Jonathan Greenberg, a director with the brokerage firm, said Hoboken Grace Community Church paid $13 million for the Bow Tie Cinemas property 409 14th St. The congregation will use the space as its new headquarters and community center for services, concerts, school graduations and other activities.
“Hoboken Grace has been a fixture for a long time and had been looking for a more permanent home,” said Greenberg, who represented Hoboken Theaters LLC in the sale. “The theater’s closing during the pandemic provided a good opportunity for Grace Church to take the space. It will be an asset to the community.”
JLL’s Jon Compitello and Dan Spero represented Hoboken Grace in the transaction.