Teaneck—Pending rezoning approval, a sale is reportedly imminent between BNE Real Estate and a vacant Teaneck property known as the old Verizon building, located at 1500 Teaneck Road, near the corner of State Street. The building has been empty for a number of years, and the sale would allow for a new four story apartment building above a parking level. In a letter sent to the Township’s council, it was reported that this new development would have 231 units built on the 4.6 acre property. While the current property is unsightly, dilapidated and obsolete, BNE plans to add augmentations that would “enhance the character of the property,” according to the letter, which was sent by Joseph Burgis of Burgis and Associates, a community planning and landscape design firm representing BNE Real Estate.

One of the planned entrances for this complex would face State Street, making it an addition to the community staple “Teaneck Apartments” community. Cost planning estimates an additional of $2.1 million of revenue annually from the addition of the 231 households the complex would have the potential to bring to the area. The projected taxes that will be generated and paid to the Teaneck township are $409,600, with approximately $606,895 in taxes going to the school board.

From an aesthetic perspective, this would be the first new apartment building in the Teaneck area, and especially in that specific location, in several decades. This building, similar to the Avalon property awaiting approval in the current World of Wings property, has the added benefit of being located strategically close to public transportation.

At the June 22 meeting of the Teaneck Town Council, it is expected that there will be a number of resolutions proposed, including moving this proposal to the Planning Board.

By Jenny Gans