Vision Properties & Hana Alternative Asset Management Acquire Jersey City Office Building For $300M

70 Hudson Street, an office property located in Jersey City, was recently sold in a transaction that closed on 02/15/2022. The property, with a total square footage of 431,281, was sold for a price of $300,000,000, resulting in a price per square foot of $696. The buyers of the property were Vision Properties and Hana Alternative Asset Management, while PFA Pension and Spear Street Capital served as the sellers. The sale was facilitated by the brokerage team from Cushman & Wakefield, consisting of Adam Spies, Kevin Donner, David Bernhaut, Ryan Larkin, and Andy Merin.

Summary of transaction details:

• Property Type: Office
• Sale Price: $300,000,000
• Square Footage: 431,281
• Price per Square Foot: $696
• Market: Jersey City

The buyers of the property, Vision Properties and Hana Alternative Asset Management, partnered with the brokerage team from Cushman & Wakefield to successfully acquire this office asset. On the other side of the deal, PFA Pension and Spear Street Capital represented the sellers. The transaction involved significant financial investment and reflects the active real estate market in Jersey City.