Nutley Building Sells For $1.6M After Seeing ‘Significant Interest,’ Firm Says

NUTLEY, NJ — A mixed-use building with apartments and retail space in Nutley recently sold for $1.63 million.

East Centre Realty LLC purchased 140 East Centre Street from the seller, 140 East Centre St. LLC – a longtime family owner, according to The Kislak Company Inc., which marketed the property.

The firm shared some background details about the property in a news release:

“Built in 1922, and previously owned and operated by the same family for multiple generations, the three-story, brick building in the heart of Nutley’s thriving township, houses seven, large, well-maintained apartments and one retail space at street level. A new boiler and hot water heater had been recently installed in the building, the back of which is affixed with fire escapes and complemented by onsite parking.”

Kislak senior vice president Tom Scatuorchio said there was “significant investor interest and multiple competitive offers” for the property.

“The purchaser plans to make targeted improvements to the property while continuing to capitalize on the strength of the surrounding market,” Scatuorchio said.

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