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FAIR LAWN, NJ-A 20,000-sf medical arts building at 19-21 Fair Lawn Ave. here has sold for a price tag of just over $5 million, or “in excess of $250 per sf,” according to Mel Gebroe, principal and co-founder of Gebroe-Hammer Associates, based in Livingston, NJ. His firm repped both the buyer and seller, who were not identified.

Handling the deal were G-H vice president Seth Pollack and executive vice president Mel Alperstein. The duo also helped arrange the financing, which was provided by a New York-based institution.

The property, which is currently more than 90% leased, according to Gebroe, includes an underground parking garage. Its location is in proximity to several major hospitals, including Hackensack University Medical Center in Hackensack, Holy Name Hospital in Teaneck and Valley Hospital in Ridgewood.

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