More than 100 new condominium units have hit the market in north Jersey at a time when demand for housing near New York City continues to soar.
The Taurasi Group, a New Jersey-based homebuilder, said it is opening 110 units at Southend Lofts — a five-story, 493,915-square-foot residential complex in Hoboken. Construction on Southend Lofts finished in the fall, with residents slated to being moving in this winter, the developer said.
The one-bedroom units will start at $795,000, while the two-bedroom units will begin at $1.2 million. Three-bedroom units will start at $1.8 million, and the four- and five-bedroom spaces will have price tags from $3.7 million. Eight units are penthouse suites.
Built in 1893, Southend Lofts is essentially the same building that housed a factory for Davis Baking Powder and My-T-Fine Pudding. A fire at 38 Jackson St. destroyed much of the building in December 2021. The Taurasi Group secured a $97 million construction loan in April 2024 to fund renovations and transform it into condos.
Gary Mezzatesta, Taurasi Group's managing partner, told Homes.com that his company wanted to revive the building for a few reasons — one of which centers on how sturdy the structure is.
"The building is essentially a fortress — high ceilings, expansive steel-casement windows and 10-inch steel-reinforced concrete decks — the kind of bones you rarely find today," Mezzatesta said. "Its prominent location across from two city parks, coupled with its iconic presence at Hoboken’s southern entryway for more than a century, made the idea of restoring and reimagining it especially compelling."
The Taurasi Group enlisted help from Nastasi Architects of Hoboken to convert the former factory. Architects kept some of the original windows and exposed columns as a nod to the building's former life.
"The city’s historical commission and local civic leaders felt strongly that the building should be preserved, and we shared that conviction," Mezzatesta said. "Its industrial heritage is an important chapter in Hoboken’s story, and we wanted the redevelopment to honor that legacy while giving it a modern best-use future."
The new condo development sits in a mid-sized city that traces the Hudson River and is directly west of New York City. The housing stock in Hoboken — which many call the "Mile Square City" — consists mostly of townhouse and condo towers. Many of those buildings are four- or six-story redbrick low-rises, enhancing the small-town feel of an otherwise bustling city.
Residents of Southend Lofts will have balconies or terraces that look across the river to Manhattan. The bathrooms will feature soak tubs, walk-in showers and quartz countertops.
Southend Lofts residents will also have access to the building's eighth-floor rooftop terrace, a 40-foot swimming pool, a fitness center, a pet spa, a playroom and a co-working space, among other amenities.