Out-of-State Investor Acquires 3,900 Square-Foot Mixed-Use Property In West New York For $1.1M

The property asset involved in this transaction is a mixed-use building located at 6702 Bergenline Avenue in West New York, NJ. The asset spans 3,900 square feet and was sold for $1,100,000, translating to approximately $282 per square foot. Built in 1920, the property includes a tenant-occupied second-floor office and a vacant ground-floor retail space, which attracted investor interest despite the challenges of vacancy within financing.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $1,100,000
• Square Footage: 3,900
• Price Per Square Foot: $282
• Address: 6702 Bergenline Avenue
• Market: West New York, NJ
• Brokers: Christopher Gerena - Marcus & Millichap

An out-of-state New York investor executed the purchase of this property in an all-cash transaction. Marcus & Millichap facilitated the deal, which reflects ongoing demand along the mixed-use corridor of Bergenline Avenue, even amidst financing challenges due to vacancy concerns.