3522 Park Ave. in Weehawken — Courtesy: NAI James E. Hanson
By Tina Traster
A partnership has acquired a 9,000-square-foot mixed-use building in Weehawken, brokers with NAI James E. Hanson announced Wednesday.
The buyers, Lennard Charles & Michael Ignatieff, paid an undisclosed price in the transaction at 3522 Park Ave., a three-story property with 3,000 square feet of ground-level retail space and a 1,080-square-foot mezzanine, according to a news release. The building also has two floors of residential space and on-site parking.
NAI Hanson’s Joan Cenicola and John Schilp represented the seller, 3522 Park Ave LLC, citing the building’s location just off Route 495 and close to the Lincoln Tunnel, routes 1&9 and 3 and the New Jersey Turnpike. Additionally, the site is minutes from the Weehawken Waterfront Park and Recreation Center that recently underwent more than $10 million in capital improvements.
“The Weehawken market continues to see a surge in demand due to its competitive pricing and proximity to many of the densely populated surrounding towns,” Cenicola said. “Properties like 3522 Park Ave offer great investment potential and offer landlords a fantastic long-term opportunity to the maximize value of their assets.”
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.
