Press Releases
Marcus & Millichap Brokers $9.5M Sale of Mixed-Use Property in West New York, New Jersey
May 26, 2026
WEST NEW YORK, N.J., May 26, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Coviello Plaza, a CVS-anchored mixed-use property in West New York, New Jersey. The asset sold for $9.5 million.
“Opportunities to acquire legacy-owned assets of this scale, with this amount of frontage and parking along Bergenline Avenue are extremely rare,” said Devin Perez, associate director investments in Marcus & Millichap’s New Jersey office. “As the first time this property has been brought to market since its development in 1988, investor demand remained strong due to the asset’s irreplaceable location, long-term tenancy history and future value-add potential. Despite multiple challenges throughout the transaction process, our team successfully secured an all-cash 1031-exchange buyer and navigated the sale through closing.”
Perez, along with Alan Cafiero and Brent Hyldahl of Marcus & Millichap exclusively marketed the property on behalf of the seller and procured the buyer.
Coviello Plaza, located at 5300 Bergenline Ave., is surrounded by retail stores and restaurants on Bergenline Avenue, West New York’s primary retail corridor. The site includes a three-story, 27,100-square-foot building and a multi-level parking deck. The property has 11 units and is occupied by a mix of retail, medical and professional tenants.
“Opportunities to acquire legacy-owned assets of this scale, with this amount of frontage and parking along Bergenline Avenue are extremely rare,” said Devin Perez, associate director investments in Marcus & Millichap’s New Jersey office. “As the first time this property has been brought to market since its development in 1988, investor demand remained strong due to the asset’s irreplaceable location, long-term tenancy history and future value-add potential. Despite multiple challenges throughout the transaction process, our team successfully secured an all-cash 1031-exchange buyer and navigated the sale through closing.”
Perez, along with Alan Cafiero and Brent Hyldahl of Marcus & Millichap exclusively marketed the property on behalf of the seller and procured the buyer.
Coviello Plaza, located at 5300 Bergenline Ave., is surrounded by retail stores and restaurants on Bergenline Avenue, West New York’s primary retail corridor. The site includes a three-story, 27,100-square-foot building and a multi-level parking deck. The property has 11 units and is occupied by a mix of retail, medical and professional tenants.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
