135 South St. in Passaic — Courtesy: Cervelli Real Estate and Property Management
By Joshua Burd
The owner of a loft-style apartment building in Passaic has tapped Cervelli Real Estate and Property Management as its leasing team for the property’s commercial space.
The brokerage firm said the offering at 135 South St. includes 5,500 square feet on the ground floor and another 2,000 square feet on the rooftop. It’s marketing the space to businesses ranging from restaurants and cafes to daycare centers, gyms and medical facilities, with an asking rent of $30 per square foot.
The newly restored historic building is the first piece of a multiphase residential development, providing high visibility and a built-in customer base from the surrounding community, Cervelli said.
“Located conveniently near Route 21, Interstate 80 and the Garden State Parkway, the property provides easy access to major destinations in New Jersey and New York,” the firm wrote in a recent announcement. “Additionally, it is close to the Passaic train station and multiple bus routes, offering excellent connectivity to New York City and the surrounding areas.”
Cervelli said the rooftop space would provide a prospective restaurant user with views of the Passaic River, while the ground-floor space has ample room for a childcare or senior day care facility. The building also has modern security features, along with 50 additional parking spaces available for tenants to lease.
The firm, meantime, pointed to a project at nearby 2 Market St. that will create another 63 loft-style apartments with views of the river, southern Bergen County and portions of the Manhattan skyline, according to a news release. The building will have amenities such as rooftop dining, a gym and a common room, as well as a two-level parking garage with 57 spaces.
Adjacent to 2 Market St., a development at 127 South St. will have 52 units and 52 parking spaces, the news release said. A third project involves converting an old factory site into 300 apartments, which Cervelli said is currently in the conceptual stage.
