ICON Real Estate Advisors has arranged the $3.1 million sale of 604-618 Van Houten Avenue, a mixed-use property in Clifton, New Jersey, comprising 11 apartments, five retail spaces and approximately 30 parking spaces.
David Betesh, Director of Multifamily at ICON Real Estate Advisors, represented both the seller, Van Houten Investors LLC, and the buyer in the transaction. The asset was marketed broadly and generated multiple offers before closing.
Occupying five contiguous parcels along Van Houten Avenue, the mixed-use property features a one-bedroom apartment and ten two-bedroom apartments, while the retail component is fully occupied by five neighborhood businesses. Its location near the Clifton Train Station and multiple NJ Transit bus routes provides convenient access throughout Northern New Jersey and to New York City.
“This offering generated strong investor interest because it combined stable retail tenancy with significant upside in the residential apartments,” said Betesh. “We were pleased to represent both the buyer and seller and guide the transaction through a competitive marketing process that resulted in multiple offers and a successful outcome.”
About ICON Real Estate Advisors
Headquartered at 1 Boland Drive in West Orange, New Jersey, ICON Real Estate Advisors was co-founded by Managing Partners David Oropeza and David Jarvis. Collectively, the firm’s partners bring more than 100 years of experience and over $20 billion in combined career transaction volume. ICON leverages longstanding client relationships to provide deep insight into local owners, investors, and market dynamics, with a focus on multifamily investment sales across New Jersey, New York, Pennsylvania, Maryland, and Virginia.
For more information, visit www.icon-rea.com or email [email protected].