Hoboken Developer Tarragon To Sell Prime Property at 1000 Jefferson Street
According to CNNMoney.com, the publicly traded real estate development company, Tarragon Corp. announced the sale of their recently completed rental project at 1000 Jefferson Street for $116.2 million. Tarragon was responsible for the development of The Upper Grand condominiums, in Northwest Hoboken, and is currently involved in two more residential development projects in Hoboken. The buyer is an unnamed major institutional investor. Good to know there are buyers for Hoboken real estate out there.
Hoboken Gets Parks, a Pool, Community Center and a Movie Theater?
The article goes on to quote the President of Tarragon Development Corp., William Rosato, saying “With this successful transaction, Tarragon looks forward to continuing its role in the redevelopment of Hoboken where we and our partners control almost 20 acres of land proposed for development of rental and for sale housing, a public swimming pool and community center, parks, a multi-screen movie theatre and retail uses”. We shall see what use they actually make of their holdings.