The Real Deal New York

JPMorgan buys Hoboken rentals for $125M

AFL-CIO owned four-building complex for a decade
June 10, 2014 10:55AM

JPMorgan Chase acquired a 240-unit rental complex in Hoboken for $125 million.

The Curling Club Apartments, which spans a block at 1130 Grand Street, holds four five-story properties. Each building has a single-story parking garage at its base. AFL-CIO Building Investment Trust has owned the complex since 2004, about five years after it opened.

Commercial real estate brokerage HFF marketed the site, while PNC Realty Advisors served as an investment consultant to AFL-CIO Building Investment Trust. The HFF team include Michael Oliver, Jose Cruz, Kevin O’Hearn, Jeff Julien and Andrew Scandalios.

In March, LaSalle Investment Management, an independent arm of JLL, bought a two-building Hoboken rental complex called the Artisan for $33.6 million, as previously reported.  [GlobeSt]Mark Maurer