FAIR LAWN, NJ – Massey Knakal represented the owner of the historic Radburn Plaza in the recent $8 million sale of the property.
The mixed-use building, located at 14-01 Plaza Roadbetween Fair Lawn Avenue and High Street, is a centerpiece of the Radburn section of Fair Lawn, NJ, which was established in 1929 as a planned community designed with residential, commercial and industrial areas and an innovative separation of pedestrian and vehicular travel.
“This property is a landmark building in the Radburn district and it received tremendous interest and multiple offers during our marketing process. We found a qualified buyer in a short period of time who closed quickly and met the seller’s expectations,” said Massey Knakal’s Seth Pollack,who exclusively represented the owner in this transaction. “The activity was an indication of the strength of the Bergen county market for well-located, well-occupied mixed-use properties.”
The three-story office and retail building contains approximately 37,000 square feet and consists of 21 units, MK says.
The building, painstakingly restored by Fair Lawn-based Ives Architecture Studio after a devastating October 2002 fire burned half of the property to the ground, is within walking distance of local restaurants, shops, banks, and the Radburn train station. It is also convenient to major highways in the northern New Jersey metroplex, such as Route 208, which provides access to Routes 4 and 17, the Garden State Parkway, and Interstate 287.
Massey Knakal is a diversified real estate company, exclusively representing owners in the sale, retail lease and financing of their properties. MK has more than 150 employees, four offices and thorough coverage of the five boroughs of New York City, Westchester County, Long Island and New Jersey. Since 1988, MK says it has closed more than 4,700 transactions, with an aggregate value in excess of $19 billion.