Former Water Music Studios in Hoboken Sold for 9M
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.
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