Angelo, Gordon & Co., Prism Capital to Redevelop Former Wonder Bread Facility in Hoboken to Mixed-Use Property for $120M
HOBOKEN, N.J. — Angelo, Gordon & Co. and Prism Capital Partners have unveiled plans to recapitalize and develop a former industrial facility in Hoboken as an 89-unit apartment property with 10,000 square feet of indoor and outdoor amenity space as well as a street-level retail space for $120 million. Parkwood Development Corp. started the project in 2012 and will retain an ownership stake in the development. Originally built in 1909 and used as an industrial facility that produced Wonder Bread, the project, dubbed the Wonder Lofts, will be made up of five separate buildings and retain a significant amount of the property’s existing architectural detail. The project has received necessary approvals and nearly all demolition and construction preparation has been completed.