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| 800 Madison Apartments, Hoboken, NJ |
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| Jose Cruz |
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.
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| Andrew Scandalios |
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.
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| Kevin O'Hearn |
“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.
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| Jeff Julien |
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 a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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