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Applied Acquires Remaining 10% of 333 River St.

HOBOKEN, NJ-HFF brokered the partial sale of the 526-unit waterfront community by Starwood Capital.

By Debra Hazel | Updated on September 12, 2011

HOBOKEN, NJ-Applied Development has acquired the 10% it did not own of 333 River Street, a 526-unit multifamily community and retail complex here, for $10 million, says HFF, which marketed the property for seller Starwood Capital Group Global. Applied now owns the entire building, which also includes 56,723 square feet of ground floor retail space, including Fresh Ideas by Kings, Valley National Bank, 3 Forty Grill and CORT Furniture.

“Apartments in New Jersey are in very high demand right now,” Jose Cruz, a HFF senior managing director, tells GlobeSt.com. Also representing Starwood were HFF senior managing director Andrew Scandalios, and directors Jeffrey Julien and Kevin O’Hearn.

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