Listed by Kislak Commercial Real Estate Services, Inc
$1,950,000
156-158 North 1st Street
Details
Property Type Land, Mixed Use
Sub Type Apartment Building, Retail
Lot Size (SqFt) 19,711
Parking Spaces 38 spaces
Ground Lease No
Land Development - 45 Units | 19,711 SqFt
Marketing description
The site has plans for a four-story building with 44 residential units and 1,331 SF of commercial space.
Paterson is a historic industrial city in northern New Jersey, located about 20 miles northwest of New York City. Paterson has an economy shaped by its industrial history and its current role as a dense urban center in northern New Jersey near the larger New York City metropolitan area. Paterson’s modern economy is based on a mix of small businesses, retail, food distribution, healthcare, transportation and light manufacturing. Redevelopment efforts aim to attract tourism, housing investment and new businesses. The site is conveniently located near public transportation offering easy access to NYC.
Investment highlights
- Paterson has given an annual tax savings of $150,000 for 20-30 years through the redevelopment tax abatement the city offers for this site.
- Elevator
- Laundry room
- Garage with 38 tandem parking spaces
- Amenity space
- Bike storage
Listing Contacts
Listed by Kislak Commercial Real Estate Services, Inc
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