Horvath & Tremblay inks sale of three NJ props. for $4,355,000

Lombardi and Presta orchestrate Northern NJ deals

Brownstone Mill in Midland Park

Horvath & Tremblay has completed the sale of three New Jersey retail properties for $4,355,000.

Michael Lombardi of Horvath & Tremblay has successfully completed the sale of Brownstone Mill in Midland Park, New Jersey. Horvath & Tremblay exclusively represented the seller and sourced the buyer to complete the transaction at a

sale price of $2,825,000. Brownstone Mill is located at 11 Paterson Avenue in Midland Park, New Jersey. The Brownstone Mill Shops consist of 13,772 square feet spread across four (4) buildings on a large 7.15-acre corner parcel. The Property has enjoyed outstanding historical occupancy and is currently 97.34% leased. Brownstone Mill Shops are home to twenty-one (21) tenants and one vacant unit. The Property is situated in the center of Midland Park’s commercial district adjacent to the busy Goffle Road and Godwin Avenue commercial corridors. The Property is seconds from the town’s two grocery stores (Kings Food Market and Acme Market), CVS, Petco, Starbucks and several national quick serve restaurants. The Property is 1.5 miles from the Ridgewood Train Station with service to Manhattan, and just a few miles from NJ Routes 208 and 17, Interstate 287, and the Garden State Parkway. Midland Park is a quiet commuter suburb of Manhattan, located 20 miles northwest of the city.

Michael Lombardi also facilitated the sale of a vacant building located at 510 Central Avenue in Jersey City, New Jersey.

Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $740,000. The Vacant Building is located at 510 Central Avenue in Jersey City, New Jersey. The Property consists of a three-story, 2,000 square foot building with 25 feet of frontage along Central Avenue and on a 1,275 square foot (0.03-acre) parcel of land. The Property is zoned NC (Neighborhood Commercial), one of the most versatile designations in Jersey City. 510 Central Avenue is a short walk from Summit Avenue, Paterson Plank Road and JFK Boulevard, which along with Central Avenue are the area’s primary retail corridors. The location offers convenient access to a multitude of retail, dining, entertainment and transportation amenities in both Jersey City and neighboring Hoboken and Weehawken. The densely populated area is 3-miles west of New York City.

Marc Presta and Michael Lombardi of Horvath & Tremblay have successfully completed the sale of a mixed-use building in Verona, New Jersey.

Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $790,000. The mixed-use building is located at 679 Bloomfield Avenue in Verona, New Jersey and consists of a two-story mixed-use building with a total of three (3) units comprised of one (1) commercial unit and two (2) residential units in 2,942 square feet on 0.2-acres of land. The Property is fully occupied and includes a detached garage and on-site parking at the rear of the Property. The current residential rents are below market offering significant upside by achieving market rates upon lease renewal or re-tenanting. The Property is well located along Bloomfield Avenue (NJ Route 506), the area’s primary commercial and commuter corridor. Positioned in the center of Verona, the Property is surrounded by schools, municipal offices, and local retailers and restaurants that drive traffic to the area .