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Member News -- NAI Hanson Helps Secure New Owner f..

NAI James E. Hanson announces it has negotiated the sale of a 5,000-square-foot mixed-use property at 701 Main Street in Hackensack, N.J. NAI James E. Hanson’s Dominic Fittizzi represented the seller and former owner of Lido Restaurant in the transaction.

Situated on a busy, four-way intersection, 701 Main Street has served as the home of Lido Restaurant, a favorite among locals and fixture in the city for over 60 years. In addition to the historic restaurant and liquor license included in the sale, the 5,000-square-foot, two-story mixed-use property also features two apartments on the second floor. The new owners, one of whom is a former general manager at a prominent restaurant chain, plan to make renovations to the restaurant immediately and will continue to operate as Lido Restaurant once completed.

“Recognizing the market value as well as the sentimental value of this unique mixed-use property, we were able to leverage our experience in the northern New Jersey market and tailor our marketing strategy to attract a buyer that would honor these attributes of the property,” said Fittizzi. “We were pleased to work with our client to identify an ideal buyer who not only acknowledged the strong investment opportunity this property poses but will also carry on the legacy of Lido Restaurant for years to come.”

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