AvalonBay buys $130M Hoboken apartment property

A 217-unit Hoboken apartment building has been sold for $129.7 million.

Holliday Fenoglio Fowler (HFF) represented The DSF Group in the sale of Halstead 800 Madison. AvalonBay Communities, Inc. purchased the asset.

HFF previously assisted The DSF Group in the acquisition of the property in late 2013. It paid $109 million for it then, according to public records.

The HFF investment sales team was led by senior managing directors Jose Cruz and Andrew Scandalios, managing director Kevin O’Hearn and associate directors Michael Oliver and Stephen Simonelli.

“800 Madison is one of Hoboken’s nicest residential assets and its prime location provides easy access to all parts of the city. The property is very well leased and experiencing rent growth,” Cruz stated.

“The buyer will benefit all around from both the strength of the Hoboken market and the demand for quality units at the property.”

Halstead 800 Madison is at the intersection of Madison and 8th Streets one block from the 9th Street Light Rail Station, which provides access to the Hoboken PATH station, as well as other waterfront towns.

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