$10M-Plus Takes 58,000-SF Retail

LIVINGSTON, NJ-The 58,000-sf retail building at 442 Route 10 here has been sold by Time Equities Inc. to Safavieh Inc. The building, which sits on 3.6 acres, was previously occupied by the Huffman-Koos and Levitz furniture chains, and had been vacant for not quite a year.

The deal was brokered by Curtis Nassau and Florian Suserman, along with Chuck Lanyard of the Glen Rock-based Goldstein Group. Attorney Steven Weisfeld of Beattie Padavano of Montvale, represented the buyer, and Scott Klatsky attorney Philip Brody represented the seller.

The sale price was not released, with the parties involved describing it only as “a multimillion-dollar sale.” An industry source with knowledge of the transaction tells GlobeSt.com that the building traded for a number “well in excess of $10 million.” Buyer Safavieh Inc., a Port Washington, NY-based manufacturer and importer of carpets, has not indicated the use of its new building, specifically whether it will be utilized as a retail outlet.