Marcus & Millichap has brokered the sale of 46 S. Park Place, a mixed-use property in
downtown Morristown, for $2,847,604.
Alan Cafiero, senior managing director investments in Marcus & Millichap’s New Jersey office, along with David Cafiero and John Moroz, exclusively marketed the property on behalf of the seller and procured the private buyer.
“This transaction reflects the continued investor demand for well-located mixed-use
assets in downtown Morristown,” Alan Cafiero said. “Downtown Morristown remains one
of Northern New Jersey’s most desirable live-work-play environments. The property’s
position adjacent to the Morristown Green, along with its renovated residential units and
established retail tenancy, made it a compelling opportunity.”
The three-story, 5,180-square-foot building was built in 1955 and renovated in 2025. It
includes three apartments and a ground-floor retail unit occupied by Mashed Burgers.
The building is one of the few properties that surround the Morristown Green, the city’s central gathering spot, and is close to the Mayo Performing Arts Center and the Morristown train station. Morristown is a suburban community about 30 miles west of New York City.
