HOBOKEN, NJ-Cushman & Wakefield is now marketing the five-story, 217-unit multifamily property at 800 Madison St., which is being offered for sale on a 100% fee interest basis. Andrew Merin, David Bernhaut, Gary Gabriel and Brian Whitmer of the firm's Metropolitan Area Capital Markets Group are handling the assignment for Tarragon Development. A bid date of August 19 has been set for the offering.

"We are already seeing a great deal of interest in this prime offering,” Whitmer tells GlobeSt.com. The property, which is situated on 1.84 acres encompassing the block bounded by Madison, Monroe, Eighth and Ninth streets, is 99% leased.” It consists of 87 one-bedroom, 120 two-bedroom and 10 three-bedroom apartments, plus 1,000 square feet of ground floor retail space.

Completed in late 2008, 800 Madison has one of Hoboken's few private pools and also offers a community room and private gated patios. ”Despite prevailing market conditions, it was virtually leased up in just a year,” says Whitmer. Regarding pricing, Merin notes that the property’s sister building at 1000 Jefferson St. sold in 2008 and continues to do very well. In fact, that building sold to an institutional investor for $116.2 million