170 Main St. in Madison — Courtesy: Lee & Associates New Jersey
By Joshua Burd
A historic building in downtown Madison is slated to become a new community space after changing hands for $1.1 million, in a deal arranged by Lee & Associates New Jersey.
Brokers with the firm represented Madison Lodge #93 F&AM, the seller in the transaction at 170 Main St., noting that the 7,900-square-foot structure has served as a Masonic Lodge for nearly a century, according to a news release. The borough of Madison acquired the nearly 200-year-old, Federal-style property and will preserve and repurpose it for use in part as a senior center.
Lee & Associates’ Peter Rasmusson and Rick Marchisio represented the seller, while Madison Business Administrator Ray Codey represented the borough.
“This structure’s age, history and significance to the local community make it a very special property,” Rasmusson said. “It is rich in architectural detail. For example, masons that built the structure left their initials in the bricks on the façade, which are still visible today. Our team enjoyed working on this very unique transaction, and we are pleased with the outcome. It is gratifying to know this iconic structure will be preserved for years to come to the satisfaction of both parties involved.”
In announcing the deal, Lee & Associates noted that the two-story building was constructed in 1825 as the Presbyterian Church of Chatham Township. When the congregation moved to a larger space on Green Avenue, the Madison Lodge purchased the building and began meeting there in 1931, according to the organization’s website.
Set on nearly three quarters of an acre, with parking for 35 vehicles, 170 Main St. is three blocks from the borough’s thriving retail and commercial district, the brokers said. It’s also less than two blocks from NJ Transit’s Madison station.
