Prism Capital Partners and Angelo, Gordon & Co. are heading the industrial-to-residential conversion of a former Wonder Bread factory on Clinton Street in Hoboken. The c. 1909 bakery building and surrounding site ultimately will include 83 for-sale and six rental multifamily units in three buildings.
The property, designed by Minervini Vandermark, will feature preserved, architecturally significant detail. The conversion of the existing seven-story buildings will introduce 68 luxury condominium units. The two- to five-bedroom loft-style homes will range in size from 1,200 to 2,700 square feet. All will feature private direct-access terraces or rooftop terraces with water electric and gas hookups.
Wonder Lofts residents will benefit from 10,000 square feet of indoor and outdoor amenity space including a fitness center, pool, meeting and media rooms, lounges, kitchens and entertainment areas. The community also will feature 2,300 square feet of street-level retail fronting on Clinton Street and ample on-site garage parking, and provide easy access to mass transit.
The second building will be built on the corner of 8th and Clinton streets. That five-story structure will include 15 additional condo units. A third building, also located on Clinton Street, will include six affordable rental apartments on five stories.
As operating partner, Prism Capital Partners is overseeing the $120 million Wonder Lofts project. The firm anticipates opening the property’s sales office in the spring of 2019 and delivering the first homes in the spring of 2020.