24 South Ave. in Cranford — Courtesy: NAI DiLeo-Bram & Co.
By Joshua Burd
A developer has acquired the site of a 28,000-square-foot warehouse in Cranford, where it’s now seeking approvals to build a 75-unit luxury apartment building.
Brokers with NAI DiLeo-Bram & Co. say the property, 24 South Ave., spans about three-quarters of an acre near the municipality’s downtown and NJ Transit rail service. The buyer, Harrison Developers LLC, plans to raze the existing structure to make way for what would be a collection of studio, one-bedroom and two-bedroom homes with ground-floor retail space.
Terms were not disclosed.
“This was a highly sought-after site by many developers looking to maximize the potential of this property, but the sale required a very unique and experienced buyer given the high estimated cost of the environmental cleanup,” NAI DiLeo Bram Vice President Richard Goski said.
He represented both parties in the deal alongside Associate Vice President Catherine Goski, who added: “This property was a family-owned industrial warehouse for generations and we are excited to see the site take on a new life as a vibrant mixed-use development.”