800 Madison “Avalon”

800 Madison – flipped again! (Now “Avalon”)

Avalon Hoboken was Halstead 800 MadisonWow, it’s been a few years since we visited 800 Madison on Hoboken411.

If you see below – we had pics from when they were building the foundation!

The property has changed hands a few times (euphemism for “Real State Shell Game.”)

And here’s a quick update.

800 Madison (Once called “Upper Grand,” then called “Halstead,” now called “Avalon”) was acquired about two years by DSF Group for a hefty sum of $110 million dollars.

And earlier this month, it was sold again (for $130 million dollars) to AvalonBay Communities, Inc. – which is a Real Estate Investment Trust (REIT). They have properties in New Jersey, New York, Connecticut, Florida, California, Maryland, Massachusetts, Texas, Virginia and more.

$20 million profit for these types of businesses is probably considered “a wash” if I had to guess.

(Anyone wants let me borrow $100 million for a couple years? I wouldn’t consider $20 mil chump change!)

The broker issued this cookie-cutter statement about the deal:

“Eight Hundred Madison is one of Hoboken’s nicest residential assets and its prime location provides easy access to all parts of the city,” noting the property is well-leased and experiencing rent growth.

“The buyer will benefit all around from both the strength of the Hoboken market and the demand for quality units at the property.”

Dunno – this building has had its share of complaints over the years – perhaps the “new owners” over the years corrected the issues?

And one-bedrooms start at around $3k a month, two-bedrooms between $3,500 and $4,100 – and who knows how much more for a three-bedroom! All in an area that often floods? How do they pull off such magic? Is it the marketing, buzz-words and fancy photos?

Description: “Luxury” rentals.
Website: avaloncommunities.com
Address: 800 Madison St., Hoboken, NJ 07030

Halstead 800 Madison Hoboken NJ flipped for 20 million Avalon

Ancient updates below…

8/6/2008 Update:
So much progress has been made!

Still no official entry on the Upper Grand website.

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They sure use provocative innuendos in their GIANT advertising banners, don’t they?

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7/17/2007:
Part of Tarragon’s “Upper Grand” development project, construction is well under way over at 800 Madison.

Check out their interactive map of Northwest Hoboken. Neat map, but much of the “park space” they’ve rendered along the light rail seems too good to be true. Are we really going to have that exact space they’ve depicted? We’ve been burned before, and it’d be nice if these parks are publicly accessible and not on top of some roof-tops, like other parks are tying to be.

Click picture to see the map.

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83 Comments on "800 Madison “Avalon”"


kellyjoy
Member
kellyjoy
6 years 9 months ago

I just looked at the pricing sheet. These people have to be kidding me.

One Bedroom, One Bathroom – $2375 and up
Two Bedrooms, Two Bathrooms – $3215 and up
Three Bedrooms, Two Bathrooms – $5000 and up

Parking Fees
Controlled Access Garage Parking – $225
Application fee $75 per applicant
Administrative fee $600
Apt Holding Fee $250
Water –1bdr $25 -2bdr $32 -3 bdr$40
Pet Fee $500 per pet | two pets max.

spooler
Member
spooler
6 years 9 months ago
This thread got buried so I figured I’d revive and give everyone an update on the “luxury” of 800 Madison – The pool is still not finished – It was promised for Memorial Day, then Independence Day, then Labor Day and now it’s just “someday”. It looks really nice as a cement hole with wooden planks though! Just like the advertisements! They’ve had a very difficult time filling the apartments (probably due to the rediculous rent prices) so they decided to open up the building to Stevens College Students – So now there are 3 full floors of 18-22 year olds running around. You can even join a sorority if you want! Surprisingly this wasn’t in the marketing material? The building itself is falling apart – 2 of the 4 lobbies are closed due to consistent flooding. To “fix” the problem, they’ve decide to remove the carpet in these lobbies and replace it with tile. This way when it floods, the cleanup effort is alot easier. The parking garage has also flooded several times due to burst pipes – I never knew this could be a problem in the summer…must be the, uh, heat? Instead of “Get Lucky” the motto… Read more »
db803
Member
db803
7 years 6 months ago

Only 3. I think it has a balcony. Way too overpriced!

monk
Member
monk
7 years 6 months ago

[quote comment=”138531″][quote comment=”98017″]I really like the windwws on the corner units. The natural light you would get is going to be awesome.[/quote]

The natural light in a corner unit will set you back $5100 per month!!! Is this place for real????[/quote]

Holy crap, really? How many bedrooms?

db803
Member
db803
7 years 6 months ago

[quote comment=”98017″]I really like the windwws on the corner units. The natural light you would get is going to be awesome.[/quote]

The natural light in a corner unit will set you back $5100 per month!!! Is this place for real????

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