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Luxury Apartments Trade in Hoboken

JLL Capital Markets closed the sale and secured the $27-million financing for Edge Lofts, a two-building, luxury multifamily property located at 1405 Clinton and 1405 Adams St. in Hoboken, NJ. JLL represented the seller, Bijou Properties, LLC, and procured the undisclosed buyer.  

The sale price wasn’t disclosed. Additionally, JLL worked on behalf of an institutional borrower to secure the 10-year, fixed-rate loan through a life insurance company. 

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by senior managing directors Jose Cruz, Steve Simonelli and Michael Oliver, director Elizabeth DeVesty and associate Austin Pierce. Senior managing directors Jim Cadranell and Gregory Nalbandian, senior analyst Salvatore Buzzerio and analyst John Cumming led the JLL Capital Markets Debt Advisory team on behalf of the borrower. 

“There was no shortage of interest to finance these core multi-housing assets,” said Nabaldan. 

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JLL's Nalbandian

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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