Pete's Corner Is Up For Sheriff's Auction
Pete's Corner, the popular greasy spoon breakfast joint at the corner of Godwin and Central avenues, will be auctioned off by the Bergen County Sheriff's Office on July 19. The long-time casual early morning meeting place for locals closed down suddenly this March, after the owner failed to reach an agreement with the financing company.
According to the public notice, the property is approximately 33 feet wide by 150 feet long and will be auctioned off for the sum of $583,924.98, interest thereon, with 20% of the purchase price in the form of certified Check or Cash is required at time of sale.
The auction will take place on Friday, July 19 at 2pm at the Sheriff's Office in Hackensack.
Loopnet.com, an online commercial realty site, reports the building features two apartments, a 1 bedroom which can be rented at $900 per month and a 2 bedroom which can be rented at $1400 per month, and a coffee shop which can be rented at $4,000 per month. Zillow.com estimates the property is worth $356,073.