November 7, 2022 – Connor Russo and Michael Lombardi of Horvath & Tremblay have successfully completed the sale of 500-504 Paterson Plank Road in Union City, New Jersey. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $1,725,000.
500-504 Paterson Plank Road in Union City, New Jersey is comprised of two adjacent buildings, the first is a 1-story commercial building leased to Z’s Iron Works and the second building consists of one office tenant, NJ Office Share, occupying the entire first floor, and two (2), 3-Bedroom/1-Bathroom residential units on the second floor. Both buildings are situated on a 0.16-acre corner parcel. This mixed-use Property is 100% occupied. The Property is strategically located at the signalized intersection of Paterson Plank Road and 5th Street in the southwest section of Union City. 500-504 Paterson Plank is 1-mile from the Hudson-Bergen Light Rail Station, 2-miles from the Lincoln Tunnel connecting the area with midtown Manhattan, 2-miles from the Path Train at Journal Square Station, and 3-miles from the Newport Station. The Property also benefits from its proximity to numerous interstates and state highways (Interstate 95, US Routes 1 and 9, and NJ Routes 495 and 3). Union City is a small bedroom suburb of New York City, located in the heart of Hudson County within the New York metropolitan area. The affluent and densely populated area is 3-miles west of New York City.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.