Marcus & Millichap has successfully brokered the sale of a mixed-use commercial property located at 6702 Bergenline Ave. in West New York. The 3,900-square-foot building traded for $1.1 million, representing a price of approximately $290 per square foot.
The transaction was spearheaded by Christopher Gerena, an associate specializing in investments at Marcus & Millichap. Gerena represented the seller and navigated a complex closing process involving a partially vacant building.
The property, built in 1920, features a ground-floor retail space and second-floor office suites. At the time of the sale, the ground floor was delivered vacant, while the second floor remained occupied by a massage therapy school.
According to Gerena, these specific conditions often create hurdles for traditional buyers and lenders.
“The transaction presented a unique set of challenges, with a second-floor office tenant and a ground-floor retail space delivered vacant at closing,” Gerena said. “These factors typically limit buyer demand and access to financing.”
Despite the financing constraints associated with vacancy, the property generated significant interest from both local owner-users and outside investors. The asset was ultimately purchased by a New York-based, out-of-state investor in an all-cash deal.
The buyer was reportedly motivated by the strategic location on Bergenline Avenue, a primary commercial artery known for its high population density and limited inventory.
“Our strategy focused on creating competition and targeting buyers who recognized the long-term value of Bergenline Avenue,” Gerena added.
Located on a 0.05-acre lot in a bustling neighborhood, the well-maintained building serves as a prime example of the resilient mixed-use market in Hudson County. The sale underscores the continued appetite for Bergenline Avenue real estate, even as shifting occupancy trends require creative brokerage strategies to secure a closing.
