PATERSON CB Richard Ellis has announced the recent completion of a 19-unit multi-family building sale transaction at 315 Park Avenue in Paterson. CB Richard Ellis' Charles Berger, along with Dean Marchi, first vice president, and Gehane Triarsi, represented the seller in this transaction.
Located in the Eastside residential section of Paterson, this multi-family building contains 19 units and is 100 percent occupied. Situated near Interstate 80, Routes 4, 46 and 208 and the Garden State Parkway, the building is easily accessible by car, bus and rail service, and there are approvals in place for a New Jersey light-rail system, which will have a stop nearby.
The buyer, a longtime client of CB Richard Ellis' Private Client Group, purchased the building with a tax appeal pending and plans to hold the property for investment purposes.
CB Richard Ellis
www.cbre.com
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