75, 77 and 81 Linden St. and 80 and 84 Vanderbeck Place in Hackensack — Courtesy: NAI James E. Hanson
By Joshua Burd
A developer has acquired five parcels near downtown Hackensack with plans to build a new residential project just steps from NJ Transit rail service.
According to NAI James E. Hanson, which brokered the sale, the redevelopment site spans 30,800 square feet and include lots at 75, 77 and 81 Linden St. and 80 and 84 Vanderbeck Place. The buyer, M&M Development LLC, paid an undisclosed sum for the properties in the deal with the estate of Donald Gonzalez, ℅ Michael Sprague Esq.
Specific plans for the properties were not immediately clear, although NAI Hanson noted that they are zoned for medium-density multifamily and offices, adding that the new owner plans to redevelop the site as a residential community.
“When a town truly commits to a redevelopment plan like Hackensack has, it’s impressive to witness all that can be accomplished,” NAI Hanson’s Anthony Cassano said. “Through the addition of premier residential complexes, bountiful retail offerings as well as spacious parks and plazas, Hackensack is establishing itself as a leading place to live in northern New Jersey. I’m honored to play a role in its redevelopment, and I look forward to seeing this latest investment come to fruition.”
Cassano, a vice president, represented both parties. He noted that the site is within Hackensack’s Downtown Rehabilitation Zone, where the city has shepherded many of its 4,000 planned or completed new residential units, thousands of square feet of new retail space and a range of new community-oriented public spaces.
The site is also about a block from NJ Transit’s Anderson Street station.
Cassano, for his part, also recently negotiated the sale of a nearby redevelopment site at 107 and 109 Anderson St. that was recently approved for 234 residential units and ground-floor retail.
