Liger Crossing LLC has acquired a 4-acre development site in Paramus for $4M, with plans for a mixed-use project that includes a 40-unit townhome development and an office building.
The property, located at 143 West Ridgewood Avenue, was sold by a private, multigenerational owner.
Property: 4-acre development site in Paramus, N.J.
Price: $4M
Seller: Private, multigenerational owner
Buyer: Liger Crossing LLC
The buyer intends to renovate the historic home on the site and repurpose it as office space, while developing the remainder into residential units.
“The site’s zoning flexibility and proximity to major healthcare and residential anchors make it attractive for future development,” said Michael G. Walters, executive managing director of corporate services at NAI James E. Hanson, who represented the seller.
The property sits at the intersection of Paramus Road and West Ridgewood Avenue. It was previously a garden center and, before that, a historic residence and wartime grist mill. NAI James E. Hanson procured a local buyer with expertise in navigating the approvals needed to renovate the property, while preserving the site’s colonial past.
Situated along the eastern bank of the Saddle River and across from the Ridgewood Duck Pond, the site offers scenic surroundings and access to the six-mile Saddle River County Park trail system — features expected to appeal to future residents.
