NAI James E. Hanson has sold two mixed-use buildings totaling 9,284 square feet located at 268 and 270 Main Street in Hackensack, for a total of $1.8M in an all-cash transaction.
NAI James E. Hanson’s Jonathan Kristofich and William Pulzello represented the seller, Olympic Properties, Inc., and Signature Realty NJ’s Cary Diec and Eliane Longhi represented the buyer, a private investor, in the transactions.
268 and 270 Main Street are two contiguous, fully leased buildings comprising eight rent-controlled apartment units and two ground-floor retail units. The retail space at 270 Main Street is leased to El Turco Grill, a Turkish restaurant, and 268 Main Street is leased to Camejo & Associates, an accounting and bookkeeping firm. The buildings boast a prime location in downtown Hackensack near the Johnson Public Library, numerous new, luxury apartment buildings, including the latest addition Ora, and many other dining and retail outlets.
“Downtown Hackensack’s ongoing revitalization makes it an attractive market for investors seeking strategically located, income-producing properties in northern New Jersey,” said Kristofich. “We are proud to help our client identify an all-cash buyer and structure a non-contingent contract to provide surety of closing in a challenging marketplace. We congratulate the new ownership on their acquisition.”
