33 East Palisade Ave. in Englewood — Courtesy: Marcus & Millichap
By Joshua Burd
An investor has purchased a three-unit commercial property in downtown Englewood for nearly $1.2 million, brokers Marcus & Millichap announced recently.
According to a news release, the building at 33 East Palisade Ave. comprises 4,225 rentable square feet across three floors. The Salad House occupies the ground level, while the second floor is leased on a month-to-month basis and the third floor is vacant, offering potential for residential conversion in a location that’s in an affluent area of Englewood, close to major retailers and 3.7 miles from the George Washington Bridge.
Marcus & Millichap’s Alan Cafiero, David Cafiero and John Moroz represented the seller, Kutik Realty Associates, and secured the buyer, DMG 33 Palisade, in the $1.5 million deal.
“Mixed-use buildings in the upper-class New Jersey downtowns remain incredibly popular with the investment community,” said Alan Cafiero, a senior managing director for investments with Marcus & Millichap’s New Jersey team. “33 East Palisade was no different, as we had more than 10 competing offers, and the property ultimately sold at full asking price.”
