NAI James E. Hanson on Tuesday announced it negotiated the sale of a 4-acre land parcel located at 143 West Ridgewood Ave. in Paramus.
The firm’s team, including Jonathan Kristofich, vice president; Michael Walters, executive managing director; Cameron Silverstein, associate vice president; and Ayush Patel, associate, represented the longtime private seller and procured the buyer, Liger Crossing, LLC.
The buyer plans a significant redevelopment of the site. The project will feature a 40-unit townhome development alongside the improvement and repurposing of the historic residence on the property into a small office building. The property was a local garden center for decades and previously housed a Revolutionary War-era grist mill.
“The sale of 143 W. Ridgewood Avenue underscores the strong demand for well-located, development-ready parcels in northern New Jersey,” Walters said. “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.”
The highly visible property is situated at the signalized intersection of Paramus Road and West Ridgewood Ave. It also offers scenic surroundings, sitting along the eastern bank of the Saddle River and directly across from the Ridgewood Duck Pond, providing access to the six-mile Saddle River County Park trail system.
Kristofich noted the complexity of the deal: “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.”
