Built in 2001 by Herbert and Georgina Minks, The Georgian stands five stories tall, offering 16 multifamily units in the heart of Hoboken’s downtown.
And on April 13, Cushman & Wakefield announced it arranged the sale of the building at 206-209 Madison St. for $9 million.
A CushWake team of Andrew Schwartz, Jordan Sobel, André Balthazard and Brian Whitmer represented the seller, H. Minks LLC, and procured the buyer, TH Start, in the transaction.
“The Georgian is in a fantastic location that offers unparalleled access to surrounding neighborhoods and New York City,” Schwartz said in a prepared statement. That access is facilitated by The Georgian’s walking-distance location to the New Jersey Path Station.
“The location coupled with the property’s value-add potential made this a very compelling acquisition,” Schwartz added. “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.”
The Georgian is comprised of four one-bedroom and 12 two-bedroom units. The property offers covered parking, in-unit washers and dryers and a landscaped courtyard.