40 West Ridgewood Avenue
Originally built in the early 1900s and renovated in 2001, 40 West Ridgewood is a three-story building which was the home to McElroy, Deutsch, Mulvaney & Carpenter, New Jersey’s fourth largest law firm. The building was purchased in 2009 from the firm and leased back to them in a long-term sale/lease-back structure. Located in downtown Ridgewood, the property is close to the shopping, dining and the local NJ Transit train station.
After holding the property for 18 months, Accordia sold to a local investor with a return on equity in the project of approximately 85%.