NAI James E. Hanson announced on Thursday it has negotiated the sale of a 5,000-square-foot mixed-use building in Bergenfield.
The Teterboro-based commercial real estate firm said the 5,000-square-foot property, located at 205-207 North Washington Ave., is a mixed-use building with two professional offices on the first floor and four one-bedroom apartments on the second.
NAI Hanson’s Anthony Cassano represented both the seller, JAH Realty Associates, and the buyer, TLC Ventures.
The buyer plans to convert the first floor into four more apartments for additional income. The property also has a private parking lot with 14 spaces.
“Well-located mixed-use properties remain highly attractive to investors, even in uncertain market conditions,” Cassano said. “We were pleased to leverage our local market expertise to not only secure a buyer that recognized the property’s income-generating potential but to negotiate a deal at fair market value that was mutually beneficial to both parties.”
