Marcus: West New York retail, office property sells for $9.5 million in first-ever trade of 38-year-old center

Coviello Plaza at 5300 Bergenline Ave. in West New York — Courtesy: Marcus & Millichap

The longtime owner of a more than 27,000-square-foot commercial property in West New York has sold the asset for $9.5 million, brokers with Marcus & Millichap said Tuesday.

According to the listing team, the CVS-anchored property at 5300 Bergenline Ave. is home to a mix of retail, medical and professional tenants across 11 units and a multilevel parking deck. It’s also in the heart of West New York’s primary commercial corridor, adding to the appeal for investors and the winning buyer of what’s known as Coviello Plaza…

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