The Georgian at 205-209 Madison St. in Hoboken — Courtesy: Cushman & Wakefield
By Joshua Burd
The developers of a 16-unit apartment building in Hoboken have sold the property for $9 million, in a newly announced transaction by Cushman & Wakefield.
The brokerage team said it represented the seller, H. Minks LLC, in the trade of what’s known as The Georgian at 205-209 Madison St. An entity listed as TH Start purchased the five-story property, which was built in 2001 by Herbert and Georgiana Minks.
“The Georgian is in a fantastic location that offers unparalleled access to surrounding neighborhoods and New York City,” C&W’s Andrew Schwartz said. “The location coupled with the property’s value-add potential made this a very compelling acquisition. This was a record in terms of amount of investor activity and shows a true sign of how the Gold Coast apartment fundamentals and investment demand are back, stronger than before the onset of the pandemic.”
Schwartz, Jordan Sobel, André Balthazard and Brian Whitmer represented the seller and procured the buyer. In announcing the deal, they said The Georgian consists of four one-bedroom units and 12 two-bedroom units, providing on-site covered parking and a location that is within walking distance of PATH service and other mass transit options.
