661-665 Broadway in Westwood — Courtesy: NAI James E. Hanson
By Tina Traster
NAI James E. Hanson has negotiated the trade of a three-building property in the Bergen County borough of Westwood.
In a news release, the brokerage team said it represented seller FNF Property Associates in the transaction at 661-665 Broadway. It also represented the buyer, Eagle Rock Investments LLC, noting that the one-acre, L-shaped parcel includes a single-family house, a garage and warehouse and an auto repair center, with on-site parking and 300 feet of frontage.
NAI Hanson vice presidents Anthony Cassano and Dick Hecker completed the assignment. They said the buyer plans to refurbish the three existing buildings and lease them.
“It can be a challenge to secure a buyer for a property that is in need of substantial investment,” Cassano said. “Many buyers simply aren’t interested in having an added expense and the headaches that come with a rehabilitation project. In this case, we were able to leverage our contacts to secure a buyer who was able to envision the investment potential for this property and help both of our clients realize value from the transaction.”
Tina Traster is a freelance writer and the editor of Rockland County Business Journal. She is also a former business writer for Crain’s New York Business, real estate writer for the New York Post and staffer at the Bergen Record.
