147-153 Hudson St. in Hackensack — Courtesy: NAI James E. Hanson
By Joshua Burd
An affordable housing agency has added to a development site in Hackensack with its purchase of a downtown office property, according to a brokerage team with NAI James E. Hanson.
The buyer, the Housing Development Corp. of Bergen County, paid an undisclosed price for the two-building, 12,589-square-foot building at 147-153 Hudson St. It now plans to redevelop the existing office space and surface parking as new low- and moderate-income homes, NAI Hanson’s Anthony J. Cassano said, noting that the nonprofit owns adjacent land.
“Hackensack continues to see sustained demand from buyers seeking centrally located development sites supported by dense demographics and excellent transportation access,” said Cassano, a vice president with Teterboro-based NAI Hanson. “147-153 Hudson Street offered a unique combination of visibility, parking and walkability that made it an ideal acquisition for the buyer’s planned affordable housing expansion.”
The broker represented both parties in the deal, noting that the existing property includes 25 on-site parking spaces and highly visible office space steps from the Bergen County Courthouse. The tract is zoned for a wide range of commercial uses, he said, adding that it has direct access to routes 4 and 17, Interstate 80, the Garden State Parkway and the New Jersey Turnpike.
The Housing Development Corp. of Bergen County, for its part, describes itself as the nonprofit real estate development arm of the Housing Authority of Bergen County. Its portfolio includes housing with supportive services, senior housing, family housing, veteran housing and housing for the disabled.
