Coldwell Banker Commercial recently announced it represented the seller in the disposition of a core asset multi-tenant office building at 400 Sylvan Ave. in Englewood Cliffs. The property sold for $10.5 million.
William Hyuk Lee, a commercial real estate professional with Coldwell Banker Commercial Realty, represented the seller in the transaction.
The two-story property was built in 1975 and renovated in 2012. It encompasses 42,000 square feet and is situated on 2.99 acres with approximately 200 parking spaces.
“This well-managed property, with a diverse tenant mix of medical professionals, legal and accounting firms, was approximately 82% leased at the time of sale and was uniquely renovated with contemporary aesthetics that are attractive to occupants and visitors alike. 400 Sylvan Ave. offers an investor/owner-user a prime opportunity to acquire a long-term cash flow in a pristine asset,” Lee said in a prepared statement.