Real Estate Journal — New Jersey — January 17 - 30, 2020 — 13B
www.marej.com
M id A tlantic
N ew J ersey
EWARK, NJ — The Kislak Company, Inc. announced the re- Robert Squires, Michael Kossak and Jeff Squires arrange sale of 4 properties with 69 Units The Kislak Company sells Newark multifamily portfolio for $5.8 million N salesperson in any calendar year in the firm’s then 112- year history.
Newark Museum, Dreyfuss Planetarium, the University of Medicine and Dentistry of New Jersey, and Seton Hall and Kean Universities. NYC is 12 miles away. Robert Squires joined Kis- lak in 2003 and specializes in the sale of multifamily and other investment properties throughout NJ. He received Kislak’s 2017 and 2016 Sima Kislak Jelin Salesperson of the Year award and its 2017 Pro- ducer of the Year award. Also in 2017, Squires earned the historic distinction of becom- ing Kislak’s all-time leading
Jeff Squires joined Kislak in 2007 and specializes in the sale of multifamily and other investment properties throughout northern NJ. He received the firm’s 2008 Rookie of the Year award, 2012 Sima Kislak Jelin Salesperson of the Year award and 2014 and 2016 Producer of the Year award. Michael Kossak joined Kis- lak in 2016 and is a rising star at the firm. He specializes in the sale of investment proper- ties in Essex County.
cent sale of a four-property multifamily portfolio with a total of 69 units in New- ark. The port- folio includes 12 units at 48 Millington Ave., 16 units at 51 Summit Ave., 20 units and a devel- opable lot at 2 9 1 Wa i n - wr i gh t S t . and 21 units at 535 Haw- thorne Ave. K i s l a k m a r k e t e d the portfolio on an exclu- s i v e b a s i s with senior v i c e pr es i - d en t Rob - ert Squires
Robert Squires
51 Summit Ave.
Michael Kossak
EXCLUSIVE PROPERTIES FOR SALE
Jeff Squires
leading the assignment with the support of sales associate Michael Kossak . Senior vice president Jeff Squires pro- cured the purchaser. Robert Squires said: “After we were engaged exclusively to sell the portfolio, we marketed the properties, conducted guided tours and led a competitive bid process in order to achieve the highest and best price for the seller.” Kossak said: “There is a huge demand for well-maintained apartment buildings in north- ern New Jersey and these build- ings, in a great rental market, offer a large upside in rents.” The portfolio consists of four three-story brick apartment buildings with a variety of unit sizes all within close proximity of each other. The developable lot is currently used for parking and includes a cell tower lease pending municipal approval, thereby offering potential in- creased revenue. Located in a stable area of Newark on some streets that are lined with single-family homes and within easy walk- ing distance of bus and train stations, the four buildings each occupy less than a half- acre of land and are well-kept by a shared maintenance staff. Nearby, residents can access several parks, cultural centers and educational institutions including Branch Brook Park,
Eastampton, NJ 73 Units Justin Lupo ext 225
Newark, NJ 33 Units - 2 Buildings Michael Salomon ext 243
Belleville, NJ 28 Units Matt Weilheimer ext 272
Woodbridge (Sewaren), NJ 16 Residential Units Matt Weilheimer ext 272
Newark, NJ 10 Units + 6 Retail Julie Gralla ext 224
Jackson, NJ 21,600 SF Retail Michael Kossak ext 240
The Kislak Company, Inc. | kislakrealty.com | 732 750 3000
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