Temple Beth Shalom, a house of worship located at 40-25 Fairlawn Avenue in Fair Lawn, recently sold for an undisclosed amount, according to a Thursday announcement from Newmark Associates Commercial Real Estate.
Mary Swatek, vice president of Newmark Associates, handled the transaction and managed a seamless process for the sellers.
The property, consisting of a 28,000-square-foot building situated on approximately 2-acres, has been a longstanding place of worship, community gathering space, and preschool, and presented unique considerations as this was the first time the property had been brought to market in over 60-years.
Understanding the commercial real estate market and sensitivity to the needs of religious institutions, Swatek navigated the complexities of the transaction to achieve a successful outcome. Working with the sellers involved complex communications and negotiations with the temple’s Sale Committee, Executive Committee, and Board of Directors as well as the local community.
Newmark Associates’ expertise in marketing specialized properties was instrumental in generating considerable interest resulting in multiple offers.
“It was truly a historic day for the synagogue. This sale will help perpetuate our legacy for decades. Mary did a fabulous job in trying circumstances. She helped to keep the process going and dealt with all the bumps in the road along the way,” Jeffrey Herrmann of Cohn Lifland Pearlman Herrmann and Knopf, acting as a board member and legal counsel said.
