FLORHAM PARK, NJ - HFF announced today that it has closed the sale of 800 Madison, a 217-unit, Class A multi-housing community with ground floor retail in Hoboken, New Jersey.
HFF marketed the property on behalf of the seller. The DSF Group purchased the asset free and clear of existing debt.
Spanning an entire city block between Madison and Monroe Streets, and 8th and 9th Streets, the property has a prime location in the growing northwest section of Hoboken. The property also benefits from its location one block from the Hudson-Bergen light rail stop and adjacent to a large grocery store. Completed in 2008 with condominium level finishes, the property is 99 percent leased and includes one-, two- and three-bedroom floor plans ranging from 691 to 1,815 square feet. Community amenities include a courtyard swimming pool with hot tub and sundeck, outdoor patio with grills, two rooftop terraces, fitness center, resident lounge and private garage parking.
The HFF investment sales team representing the seller was led by senior managing directors Jose Cruz and Andrew Scandalios, managing directors Kevin O`Hearn and Jeff Julien and associate director Michael Oliver.
"DSF performed very well on the acquisition and they continue to acquire Class A multi-housing assets in the greater New York Area," said Cruz. "800 Madison represents DSF`s third acquisition in the NY metropolitan area in 2013.
Josh Solomon, president of The DSF Group added, "we are excited to further expand our portfolio in one of the strongest markets in the country."
Since 2000, the DSF Group has invested more than $2 billion in five million square feet and has quietly become one of the most successful private real estate investment firms in the country. With offices in Boston and Washington D.C., three decades of experience and a track record unrivalled in the industry, the DSF Group offers investors and communities the unique combination of expertise, vision and hands-on involvement, in both converting and redeveloping existing properties and in developing new properties from the ground up. Among numerous other industry recognitions, DSF Group was selected by the National Association of Home Builders (NAHB) as the 2011 Multifamily Development Firm of the Year. For more information, visit www.thedsfgroup.com.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit www.hfflp.com or follow HFF on Twitter at www.twitter.com/hff.
HFF Senior Managing Director
HFF Associate Director, Marketing
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Source: HFF, Inc. via GlobeNewswire