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January 31, 2018  

Luxury Hoboken Apartments for Sale

J.P. Morgan Asset Management is marketing a luxury apartment complex in Northern New Jersey that’s valued at roughly $152 million.The 240-unit Rivington, in Hoboken, N.J., would produce a 4.25% initial annual yield at the $633,000/unit estimated value. HFF has the listing.The occupancy rate is 94.6%, with an average rent of about $3,200. J.P. Morgan has upgraded about two-thirds of the units, whose rents were then raised by an average of...

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