Palisades Park Seller Guide

Broad Avenue New Construction and What It Means for Palisades Park Sellers

Who this is for: owners of two-family, mixed-use and small apartment buildings on or near Broad Avenue in Palisades Park who are weighing a sale in the next 6 to 18 months. Updated October 6, 2026. This version replaces an earlier draft that misstated several project details. Every project fact below is linked to the borough or planning record it came from.

Quick Answer: Less is changing on Broad Avenue than the headlines suggest, and the parts that are changing cut both ways for a seller. The repaving of Broad Avenue from Edsall Boulevard to Oakdene Avenue, an NJDOT grant project the borough bid in June 2026, was described as complete at the August 25, 2026 Council meeting. A separate Streetscape Phase 3 contract was rebid in spring 2026, and I could not find a posted start date. The one new building on the corridor in the borough's housing plan is a proposed 30-unit rental at 59 Broad Avenue. For most owners, price still comes from rent roll, lease terms and building condition, not from the construction around you.

What is actually happening on Broad Avenue right now?

Three things are on the public record, and they are at very different stages. That difference matters, because a project that is finished affects your listing differently from one that has not started.

The road work is largely behind you. On June 22, 2026 the borough posted a notice to bidders for the NJDOT FY2025 Broad Avenue Improvements project. It covered Broad Avenue from Edsall Boulevard to Oakdene Avenue: milling and paving, curb and sidewalk repair, ADA curb ramps and striping, with bids opened July 14, 2026 and a 45 calendar day completion window from the notice to proceed. At the August 25, 2026 Council meeting, the Borough Administrator described Broad Avenue from Edsall to Oakdene as a former problem area that had been properly paved through grant funding.

The streetscape work is bid, with timing unconfirmed. The borough first bid the Broad Avenue Streetscape Project Phase 3 on April 14, 2026, then posted a rebid notice on April 30, 2026, with bids opened May 13, 2026. The notice does not describe the scope or the blocks covered, and I did not find an award or a start date in the documents the borough has posted. If your building faces Broad Avenue, that is a question for the borough clerk before you pick a list date.

One new building is planned, not under way. The borough's Housing Element and Fair Share Plan, revised December 7, 2024, describes a proposed five-story building at 59 Broad Avenue, Block 613, Lot 18: four residential stories over parking, on a 0.21-acre lot of 9,011 square feet. It lists 30 rental apartments, 7 of them affordable, with 30 parking spaces. The companion 2024 Master Plan Amendment assigns that lot to a new AHD-4 multifamily district. A plan that names a site is not an approval. I did not find a posted site plan approval or permit for it.

What do the Planning Board change-of-use cases tell a building owner?

They tell you less about the corridor and more about how your own building will be examined. That is the useful part.

The July 22, 2026 Planning Board agenda carried two change-of-use applications on Broad Avenue. At 216 Broad Avenue, a former office unit was proposed as a two-station eyelash studio. At 411 Broad Avenue, a former real estate office was proposed as a cafe. A third Broad Avenue case, 331 Broad Avenue, was on the same agenda as a memorialization of an earlier decision, not a new filing. These are ordinary storefront turnovers. They do not show a wave of redevelopment.

Here is the nuance a seller can miss. A new storefront or office use in Palisades Park comes before the Planning Board as a change-of-use application, and the hearing transcript shows what the board asks about: parking, hours, employees, whether there is a cooking range, and whether the floor plan is drawn to scale. A buyer's attorney for a mixed-use building will ask the same thing in a different form: was the current ground-floor use approved? If your storefront tenant changed uses without that approval, I would rather we find it before a buyer's attorney does.

Does 59 Broad Avenue help or hurt the value of my building?

Both, depending on what you own. It is worth separating the two effects, because sellers usually hear only one of them.

• Where it can help. New construction signals that a developer thinks the corridor supports new rents. A buyer comparing older buildings nearby sees a market someone is investing in. Freshly paved road and sidewalk repairs on the southern end of Broad Avenue also make a better first impression than the patched surface the Administrator described.
• Where it can hurt. Thirty new apartments with parking compete for the same renters as an older walk-up with no parking. If your units are dated, a buyer will underwrite your rents more cautiously once new units lease up nearby.
• What it does not do. It does not set your price. One proposed building on a 0.21-acre lot does not change what a buyer pays for your rent roll today.

An earlier version of this post linked a separate 154-unit project to the Broad Avenue pipeline. The Housing Element places that site, Site B of the Rosenshein Tract, between Thirteenth and Fourteenth Streets near Edsall and Palisades Boulevards. It is not on Broad Avenue. The plan says a 2017 Zoning Board approval for 90 additional units there was delayed by litigation with an objector. That was its status as of December 2024.

Does the Ridgefield side of Broad Avenue change anything?

Less than you may have read. Buyers do shop both sides of the town line, so it is fair to ask.

The Ridgefield Broad Avenue Redevelopment Plan, the January 2020 version posted for Planning Board consideration, covers one property: the former Ridgefield Borough Hall site, Block 2801, Lot 1. For multifamily and mixed-use buildings fronting Broad Avenue on that site, it sets an 18,000 square foot minimum lot, a 121-foot minimum width and 80 percent maximum combined coverage. It is not a rezoning of Ridgefield's whole stretch of the avenue. The plan itself says there is no significant relationship between that site and the Palisades Park Master Plan. My take: use Ridgefield sales as a reference point, and price your building from Palisades Park sales.

What should I check before I price a two-family or mixed-use building near Broad Avenue?

Start with the income, because that is what the buyer starts with. An investor runs a cap rate or a gross rent multiplier. An owner-occupant buyer runs a mortgage payment against the rent from the other unit. Neither one pays much for a new kitchen if the rents are well below market. I explain that tradeoff in Broad Avenue Two-Family Pricing: Rent Roll vs Finishes.

Before we talk about a number, I would want five things on the table:

• Your current rents beside realistic market rents for each unit.
• Every lease, with expiration dates and any renewal terms.
• The approval history for any storefront or office use in the building.
• Your lot dimensions, parking and zoning district from the borough's zoning map.
• Your recent water, sewer and heating costs, since a buyer will ask for them.

Tenants are part of the price. In New Jersey, a residential tenant does not leave simply because a building is sold. The Anti-Eviction Act, N.J.S.A. 2A:18-61.1, limits removal to the causes it lists. One of them, subsection (l)(3), covers a building of three residential units or less sold to a buyer who wishes to personally occupy a unit, where the contract calls for that unit to be vacant at closing. That rule shapes who can buy your building and when, and the notice and procedure belong with your attorney. I am a licensed real estate agent, not a tax advisor or attorney. Confirm tax treatment and legal questions with your CPA or attorney before acting on them.

Should I list now or wait for the streetscape work to finish?

It depends on where your building sits and what your leases look like. Here are the pros and cons as I see them.

• Listing now, pro: the paving on the southern stretch is done, and you sell before any new building at 59 Broad Avenue adds competing rentals.
• Listing now, con: if streetscape work starts on your block mid-listing, showings happen beside barriers and noise, and first impressions suffer.
• Waiting, pro: a finished streetscape photographs better and removes a question from the buyer's mind.
• Waiting, con: the timing is not on the public record, so you could wait a season for work that has not been scheduled. Interest rates and your own leases keep moving too.

Here is what I would do. Call the borough clerk and ask whether Streetscape Phase 3 has been awarded and which blocks it covers. If your block is not in it, construction timing drops out of the decision, and your lease calendar becomes the thing to plan around. A building with a lease turning over is easier to sell to an owner-occupant. A building with long leases at market rents is easier to sell to an investor.

How should a Palisades Park owner choose an agent to sell a building near Broad Avenue?

Ask for proof that matches your property, a written plan, and an honest view of what could hurt your price. A town-wide average is the wrong starting point on Broad Avenue, because a mixed-use building, a two-family on a side street and a condo all sell to different buyers.

My own record in this town is specific, and I would rather show it than describe it. My career production record shows 2 closed sales and 31 closed rentals and leases in Palisades Park in the MLS era, 2001 to 2026, including 125 Roosevelt Place, a townhome I listed that closed in August 2026. The rentals matter here. Thirty-one leases is a lot of time spent learning what Palisades Park units actually rent for, and that is the number a building buyer underwrites. Before that, I listed 19 apartment buildings totaling 357 units in Hudson County and Passaic. Licensed since 1993. 500+ transactions, counting buyer and seller sides. If you want to hear how sellers describe working with me, their own words are on my client reviews page.

Palisades Park is also personal ground for me. My mother ran her consignment clothing store, Connie's Place, on Bergen Boulevard here. I watched her deal with landlords, leases and storefront turnover long before I worked with them myself.

What does the public record not tell you?

It does not tell you what your building is worth. None of the documents above includes a sale price, a rent figure or a market average for Palisades Park, and I have left those out of this post on purpose. A median that is not tied to a named source and a month moves as soon as it is published. Your value comes from recent sales and leases of buildings like yours, adjusted for condition, parking and income. If you want that analysis, the home valuation page gives you a starting range, and a walkthrough turns it into a price.

By the Numbers

• 45 calendar days: completion window for the Broad Avenue paving contract, Edsall Boulevard to Oakdene Avenue. Source: Borough notice to bidders, June 22, 2026.
• May 13, 2026: bid opening for the Broad Avenue Streetscape Project Phase 3 rebid. Source: Borough notice to bidders, April 30, 2026.
• 30 units, 7 affordable: proposed at 59 Broad Avenue, with 30 parking spaces. Source: Housing Element and Fair Share Plan, revised December 7, 2024.
• 0.21 acre (9,011 square feet): the 59 Broad Avenue lot. Source: same plan.
• 2 change-of-use cases: on Broad Avenue at the July 22, 2026 Planning Board meeting. Source: Planning Board agenda.
• 2 sales and 31 rentals and leases: my closed transactions in Palisades Park, 2001 to 2026. Source: my career production record, as of October 2026.

The Bottom Line

The construction story on Broad Avenue is smaller and slower than it first sounds. The paving is done, the streetscape timing is open, and 59 Broad Avenue is a plan rather than a building. If you own near the corridor, your rents, leases and approvals will move your price more than anything on that list, so get those in order first.

Frequently Asked Questions

Is the Broad Avenue road work in Palisades Park finished?

The repaving of Broad Avenue from Edsall Boulevard to Oakdene Avenue was described as completed through grant funding at the August 25, 2026 Council meeting. The separate Streetscape Phase 3 project was rebid with bids opened May 13, 2026, and I did not find a posted award or start date as of October 6, 2026.

What is planned at 59 Broad Avenue in Palisades Park?

The borough's December 2024 Housing Element describes a proposed five-story building there with 30 rental apartments, 7 of them affordable, over parking on a 0.21-acre lot. It is a planned site in the housing plan. I did not find a posted approval or permit.

Will new construction lower the value of my two-family near Broad Avenue?

Not directly. New units compete for renters, which can make a buyer more cautious about below-market or dated units, while new investment can make the corridor more appealing. Your price still comes from your rent roll, leases, condition and parking.

Do my tenants have to move out if I sell my Palisades Park building?

Generally no. New Jersey's Anti-Eviction Act, N.J.S.A. 2A:18-61.1, limits removal to listed causes, and one covers a building of three residential units or less sold to a buyer who will personally occupy a unit under a contract calling for it to be vacant at closing. Confirm the notice and procedure with your attorney.

Who should I talk to about selling a building near Broad Avenue in Palisades Park?

Talk to an agent who can show you Palisades Park sales and leases of buildings like yours, a written plan, and the risks to your price. My record shows 2 closed sales and 31 closed rentals and leases in Palisades Park since 2001, and I listed 19 apartment buildings totaling 357 units earlier in my career.

Not ready to talk yet? The seven-question resource quiz takes about 90 seconds and points you to the guides that fit your situation.

Selling near Broad Avenue? I would like to walk the building with you, look at the rent roll and the approvals, and show you the sales and leases that actually set your price.

Request an appointment, or text or call me at (201) 970-3960. Questions after hours? Ask my AI assistant. It is an AI, not me in person, and I follow up personally.

Scott Selleck
The Selleck Group, KW City Views Realty
2200 Fletcher Avenue, Suite 502, Fort Lee, NJ 07024
Cell: (201) 970-3960
Office: (201) 592-8900
Email: [email protected]
Website: SelleckSellsNJ.com
SRES, e-PRO. Licensed since 1993. 500+ transactions, counting buyer and seller sides.

NJ Real Estate Broker / Sales Associate License #9236275. Equal Housing Opportunity. Keller Williams City Views Realty. Each office is independently owned and operated. I am a licensed real estate agent, not a tax advisor or attorney. Confirm tax treatment and legal questions with your CPA or attorney before acting on them. Project details come from public borough and planning records as of October 6, 2026 and may change. Confirm zoning, permitted uses and approvals for your property with a land-use attorney and the borough. Commissions in New Jersey are negotiable and are not set by law.

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