Jersey City’s Soho Lofts sell for $264M

AEW unloaded the residential property to Mack-Cali Realty
April 11, 2019 10:30AM

Soho Lofts at 273 16th Street in Jersey City (Credit: Google Maps)

Soho Lofts at 273 16th Street in Jersey City (Credit: Google Maps)

AEW has officially sold Jersey City’s Soho Lofts for $263.8 million.

The owner sold the 377-unit apartment building to Mack-Cali Realty Corp., according to NJBIZ. HFF marketed the property exclusively and procured the buyer in Mack-Cali, a Jersey City-based real estate investment trust that is refocusing its business on assets in New Jersey.

The Soho Lofts are located at 273 16th Street between Hoboken and Jersey City, right next to Interstate 78 and the Holland Tunnel. The building was finished in 2018 and includes 369 apartments and eight townhouses. The property features 173,000 square feet of ground-floor retail and a 375-space parking garage as well.

HFF was recently purchased by JLL in a $2 billion deal. [NJBIZ] – Eddie Small