359 Main Street Partners LLC Acquires Development Site In Hackensack, NJ For $6M

A development site located at 359-375 Main Street in Hackensack, NJ has been sold in a closed transaction. The property, spanning 1.06 acres, was purchased by 359 Main Street Partners LLC for a total sale price of $6,000,000. The site has a buildable square footage (BSF) of 87,203, resulting in a price per buildable square foot (PPBSF) of $69. The transaction also includes 110 units, with a price per unit (PPU) of $54,545. The purchase price per acre (PPA) amounts to $5,660,377.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $6,000,000
• Address: 359-375 Main Street, Hackensack, NJ
• Market: Hackensack, NJ
• Buyer: 359 Main Street Partners LLC
• Seller: Westwood 20 Realty, LLC & Mekava Realty Associates, LLC
• Brokers: Jonathan Kristofich, Michael Walters & Cam Silverstein - NAI James E. Hanson
• BSF: 87,203
• PPBSF: $69
• Units: 110
• PPU: $54,545
• Acres: 1.06
• PPA: $5,660,377

The transaction was facilitated by brokers Jonathan Kristofich, Michael Walters, and Cam Silverstein of NAI James E. Hanson. Their expertise and representation were instrumental in successfully completing the deal.