Massey Knakal Sells Mixed-Use Building In Ridgewood
A mixed-use building at 4-8 Franklin Avenue, located opposite the train station at the corner of Franklin Avenue and N Broad Street in downtown Ridgewood, NJ was sold in a transaction valued at $1,650,000.
The two-story building contains approximately 8,000 square feet and sits on a 72’ x 34’ lot. The property consists of eight units and is fully-occupied by a mix of retail and professional office tenants. The sale price equates to approximately $206 per square foot.
“The property received many strong, well-qualified offers within a short period of time on the market, which is a clear indicator as to the strength of the commercial investment market in Bergen County,” said Massey Knakal’s Seth Pollack, who exclusively represented the seller in this transaction.
Massey Knakal is a diversified real estate company, exclusively representing owners in the sale, retail lease and financing of their properties. With over 200 employees, four offices and thorough coverage of New York City’s five boroughs, Westchester County, Long Island and New Jersey, Massey Knakal has dominated the New York metropolitan area for the last two decades by providing premier real estate brokerage and advisory services. Leveraging our proprietary Territory System™, our agents have partnered with owners throughout our markets to close over 4,700 transactions, with an aggregate value in excess of $19 billion since 1988. www.masseyknakal.com