HOBOKEN, NJ-Tarragon Corp. has sold luxury rental building 800 Madison Street here to CB Richard Ellis Investors, announced Cushman & Wakefield, which marketed the property.

The 217-unit, fully leased apartment building, which comprises an entire city block, was completed in late 2008. C&W had been marketing the property while it was under construction, but took it off the market when Tarragon filed for Chapter 11 bankruptcy protection in 2009. Tarragon emerged from bankruptcy in 2010, and C&W again began marketing the project in August. No purchase price was disclosed.

“As a testament to the desirability of the Gold Coast multi-family market and the uniqueness of the opportunity, we received a near record 260 requests for offering materials,” says Brian Whitmer, who handled the assignment with Metropolitan Area Capital Markets Group team members Andrew Merin, David Bernhaut and Gary Gabriel, in a statement. “Hoboken remains the best performing multi-family submarket in Northern New Jersey, and as a result, the institutional-quality class A communities are highly sought after by the investment community. CBRE Investors recognized the market’s long-term stability, the upside potential as rental demand roars back, and the competitive advantage of owning one of the newest luxury rental communities in the city.”