4912 Bergenline Ave. in West New York — Courtesy: Marcus & Millichap
By Joshua Burd
A private investor has paid $6.5 million for a mixed-use, 21,000-square-foot building in West New York, in newly completed transaction by Marcus & Millichap Capital Corp.
Brokers with the firm represented both parties in the sale of 4912 Bergenline Ave., which includes ground-floor retail space that is leased to 7-Eleven and Telco. The second floor is occupied by several office tenants on a month-to-month basis, with a 36-space parking lot in the rear of the property.
Fahri Ozturk and Richard D. Gatto, investment sales specialists in Marcus & Millichap’s New Jersey office, completed the assignment on behalf of the undisclosed seller. They touted the building’s proximity to the Lincoln Tunnel and routes 495, 1&9 and 3, along with the New Jersey Turnpike and the Hudson-Bergen Light Rail station across the street.