AIRN Management has sold the former Water Music Studios at 921-931 Madison Street in Hoboken, NJ, for $8.5 million.
The site is part of a larger portfolio of seven properties along the New Jersey Gold Coast. The new owner plans to develop a luxury 36-unit residential complex alongside ground-level commercial space, capitalizing on the site’s strategic proximity to transport links and major retailers.
The sale was orchestrated by CBRE’s Fahri Ozturk, Richard Gatto, Zach McHale, and Jeff Babikian, appointed by a court-assigned restructuring management team for this purpose.
Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money.
With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.