226-228 Washington Street, Hoboken. Photo by Bill Hartnett/Jersey Digs.
A two-story retail property located on Hoboken’s primary commercial artery sold for $8.24 million. CBRE oversaw the sale of 226-228 Washington Street. The building, most recently occupied by a grocery store, is ideal for redevelopment.
The CBRE team of Charles Berger and Sam Bernhault led the marketing campaign for the Hoboken property and represented the seller in the negotiations. CBRE was also responsible for procuring the buyer.
“We leveraged the full strength of our integrated platform, drawing expertise from both Capital Markets and Retail Services, to secure a buyer with a reliable plan for the asset and validating the potential value add for the property,” noted CBRE’s Berger. “We were able to achieve a purchase price that translates to over $1,000 per sq. ft. in an all-cash transaction. The new ownership now plans to secure entitlements to develop a mixed-use property.”
The property was most recently leased by high-end grocery store Aspen Marketplace, which closed in summer 2025. First opened as Garden of Eden Marketplace, the market had occupied the site since 2006.
226-228 Washington sits in the heart of Hoboken’s thriving retail district. The property is a quick walk to both the Hudson River waterfront and the Hoboken PATH Station. Several national retailers and restaurants, including Starbucks, Chipotle, Sephora, Nike, Dunkin’, and Abercrombie & Fitch.
This transaction is one of several new deals on Hoboken’s highly coveted Washington Street. Marcus & Millichap recently completed sales at 312 Washington, as well as 420 and 1004 Washington.