Mixed-used property in Passaic sells for $2.5M

A mixed-use site in Passaic featuring a restaurant and 23 units sold for $2.5 million, the Kislak Co. reported Monday.

The property at 60 Dayton Ave./15 Hobart St. was sold by Hobart Dayton Proud Passaic to Bonim Realty, according to Senior Vice President Julie Gralla, who handled the sale.

The Passaic property consists of 23 apartments and a street-level restaurant with a long-term tenant. With easy access for commuters, it is in close proximity to Routes 21 and 46 and the Garden State Parkway and within one mile of the Garfield train station.

Gralla, who joined Kislak in 2010 and specializes in the sale of investment properties throughout northern New Jersey, said the seller and the buyer made it easy.

“It was a pleasure working with both parties,” she said. “The seller was a repeat client, and the purchaser was a goal-driven team player.

“In an increasingly difficult selling environment, this sale exhibited the importance of teamwork and professionalism. Together, we responded swiftly to any obstacles that arose. While there will be work involved, the property offers a great deal of upside potential.”