Skylight Real Estate Partners And PPCP Acquire Multifamily Property In Hoboken For $56.75M

Skylight Real Estate Partners and PPCP have jointly acquired a multifamily property located at 300 Grand Street in Hoboken. The transaction, which took place on June 23, 2022, was facilitated by brokers Jose Cruz, Steve Simonelli, Michael Oliver, and Kevin O'Hear from JLL Capital Markets. The property consists of 99 units, with a per unit price of $573,232, resulting in a total sale price of $56,750,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $56,750,000
• Address: 300 Grand Street
• Market: Hoboken
• Buyer: Skylight Real Estate Partners - Bennat Berger & PPCP - Brian Haber
• Seller: N/A
• Brokers: Jose Cruz, Steve Simonelli, Michael Oliver & Kevin O'Hear - JLL Capital Markets
• Units: 99
• Price per Unit: $573,232

The acquisition of this multifamily property was a collaborative effort between Skylight Real Estate Partners, PPCP, and the brokerage team led by Jose Cruz, Steve Simonelli, Michael Oliver, and Kevin O'Hear from JLL Capital Markets. The deal showcases the strong demand for multifamily properties in the Hoboken market.