601W Cos. LLC Acquires Office Tower From Veris Residential In Jersey City Sale | 185 Hudson Street | Office | Sale

Summary

Sale

NEW JERSEY

Office

The property involved in the transaction is Harborside 5, a 34-story office tower located at 185 Hudson Street in Jersey City. The sale price of the property was $85,000,000.

Summary of transaction details:

Property Type: Office
Transaction Amount: $85,000,000
Buyer: 601W Cos. LLC
Seller: Mahbod Nia - Veris Residential
Listed Broker: CBRE; Cushman & Wakefield

The sale of Harborside 5 marks Veris Residential's strategic shift towards becoming a pure-play multifamily operator under the leadership of CEO Mahbod Nia. This transaction is part of the fourth-quarter and full-year 2023 earnings report, signifying the company's focused transition in the real estate market.

Details

Deal Summary

SOLD

IMAGE: Mahbod Nia DATE: 02/23/2024 ADDRESS: 185 Hudson Street MARKET: Jersey City ASSET TYPE: Office BUYER: 601W Cos. LLC SELLER: Mahbod Nia - Veris Residential (@VerisResidential) BROKER: CBRE (@CBRE); Cushman & Wakefield (@CushWake) SALE PRICE: $85,000,000 NOTE: Veris Residential is selling Harborside 5, a 34-story Jersey City tower, for $85 million, completing its transition to a pure-play multifamily operator. The sale, part of the fourth-quarter and full-year 2023 earnings report, reflects Veris' strategic shift led by CEO Mahbod Nia. # VerisResidential

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Address185 Hudson Street

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