PASSAIC/EMERSON, NJ — Winick Realty Group’s Urszula Zoltek recently completed two property sales transactions in New Jersey, representing both the seller and the buyer in both transactions.
HSVC Investments LLC sold a mixed-use, three-story building at 21-25 Monroe St. (pictured) in Passaic to 21, 23 & 25 Monroe Street LLC. The buyer also owns the property next door and decided to purchase the building in order to maintain its condition and preserve the value of both properties. 21-25 Monroe St. includes 12 one-bedroom apartments and four ground-floor retail spaces, each measuring 650 s/f. Currently three of the retail spaces are occupied by local businesses—a computer repair shop, a grocery and deli, and a botanica—while the fourth is currently vacant. The building was sold for $1.075 million and the sale transaction took two months to complete.
At 176 Kinderkamack Rd. in Emerson, Hayden Asset II LLC sold 0.22 acres of land to 182 Emerson LLC for $465,000. The parcel of land is located at the intersection of Linwood Ave., close to Vilano Elementary School, Emerson Public Library, Emerson Municipal Plaza and a New Jersey Transit Railway Station. The property houses a one-story, 1,600 s/f retail building, as well as 14 parking spaces. The former home of AJ’s Restaurant, Wacky Burgers and Fries, the retail site is currently vacant and is available for lease.