You might want to check out Trulia's real estate guide for Hoboken (link below). It's no substitute for a local real estate expert but it's a start.
It is a tough question, as there is supporting data for both. The area (street, building)as well as new vs. old construction can be factors in the data. Overall , the market in Hoboken is strong but seeing weakness in new construction and areas that are not as desirable as others. New construction is adding buyer incentives and mortgage incentives to drive the sales. In addition, the sq ft is not always a equitable factor in real estate. Hire a local realtor, preferably a Buyer's Agent, to work with you to get the local data as well as be an advocate. If you need a referral in the area contact me as I have 3 agents that I can recommend to assist with your need and follow your objectives.