NAI James E. Hanson, an independent commercial real estate firm, has negotiated the sale of a 4-acre land parcel at 143 W. Ridgewood Ave. in Paramus.
NAI James E. Hanson’s Jonathan Kristofich, vice president; Michael G. Walters, SIOR, executive managing director of corporate services; Cameron Silverstein, associate vice president; and Ayush Patel, associate, represented the longtime private seller in the transaction to and procured the buyer, builder Liger Crossing LLC.
Located at the signalized intersection of Paramus Road and West Ridgewood Avenue, the visible property was a garden center for decades and prior to that was a historic residence and home to a Revolutionary War-era grist mill. The buyer intends to improve the historic home and repurpose it to a small office building alongside a 40-unit townhome development.
“The sale of 143 W. Ridgewood Avenue underscores the strong demand for well-located, development-ready parcels in northern New Jersey,” said Walters. “Opportunities of this size and visibility are extremely limited in Paramus, and the site’s zoning flexibility and adjacency to major healthcare and residential anchors make it ideal for future development.”
Kristofich added, “Our team’s deep understanding of the local market and challenges that this property faced for many years uniquely positioned us as the right team to help this multigenerational owner procure a local buyer with the expertise to obtain the necessary approvals to finally bring this property into the 21st century, while respecting its colonial past. We see this as a win-win for all involved.”
Situated along the eastern bank of the Saddle River and directly across from the Ridgewood Duck Pond, the property offers scenic surroundings and access to the six-mile Saddle River County Park trail system.
