The property involved in the transaction is a 7,690-square-foot retail and office property located at 111-117 West Second Ave in Roselle, New Jersey. Situated in a southwestern suburb of New York City, the asset offers easy access to the Garden State Parkway and the Roselle Park transit station. At the time of sale, the building was leased to three retail tenants and one office tenant. The new buyer intends to reposition the property for residential use.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: Not disclosed
• Seller's Representative: Marc Shein (NAI Capital), Matthew DiLeo (NAI Capital)
• Buyer: Unknown
• Square Footage: 7690
• Market: Roselle

NAI DiLeo-Bram & Co. played a crucial role in brokering the sale of the retail and office property. Marc Shein and Matthew DiLeo, both representing NAI DiLeo-Bram, acted as the seller's representatives and facilitated the transaction, bringing the seller and undisclosed buyer together. The deal marks a strategic move by the buyer to transform the property into a residential space, leveraging its prime location and existing tenant mix.