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HOBOKEN, N.J. — CBRE has brokered the $7.5 million sale of a 13,000-square-foot multifamily development site located at 511-521 Newark St. in Hoboken. The site is part of a portfolio of seven Northern New Jersey parcels that have collectively been approved for the development of 450 units. Fahri Ozturk, Richard Gatto, Zach McHale and Jeff Babikian of CBRE represented the owner, AIRN Management, in the land sale. The buyer, a private developer based in Hudson County, did not provide further details or plans for the site.