The sale of a rare mixed-use property in Downtown Englewood for $1.15 million was arranged by the expertise of commercial real estate brokerage firm Marcus & Millichap, according to a Thursday announcement.
Alan Cafiero, David Cafiero and John Moroz, investment specialists in Marcus & Millichap’s New Jersey office, had the exclusive listing to market the property on behalf of the seller, Kutik Realty Associates, and secured the buyer, DMG 33 Palisade.
Located at 33 E. Palisade Ave., this mixed-use downtown property features a three-story building with a total of 4,225 rentable square feet. The property includes three units: The ground floor is occupied by the Salad House, while the second floor is currently leased on a month-to-month basis, and the third floor is vacant, offering potential for residential conversion. The building is situated in an affluent area of Englewood, close to major retailers and just 3.7 miles from the George Washington Bridge.
“Mixed-use buildings in the upper-class New Jersey downtowns remain incredibly popular with the investment community,” Alan Cafiero, senior managing director, investments, at M&M, said. “33 E. Palisade was no different, as we had more than 10 competing offers, and the property ultimately sold at full asking price.”
