Mid Atlantic Real Estate Journal — New Jersey — January 16 - 29, 2015 — 3B
N ew J ersey
Kislak completes $18.6 million sale of seven properties in northern new jersey Scott Davidovic of Kislak co-represents the seller in a $7.1m sale of 1.033 acres in Hoboken
“A loan assumption was ex- ecuted to avoid a pre-payment penalty,” said Davidovic. “We represented the seller in the sale of this property and his purchase of a Section 1031 Exchange property.” The Irvington property con- sists of a three-story brick gar- den apartment building. The property offers on-site parking and large one-bedroom units. Davidovic represented the seller and Greenberg repre- sented the purchaser. “The multifamily remains very strong throughout New Jersey where we are see-
ing high per-unit prices and low cap rates,” said Davi- dovic. “This property traded at $50,000 per unit and will be gut renovated by the new owner.” The Leonia property consists of a 12-unit all brick garden- style apartment building. The recently-landscaped property is located in desirable Ber- gen County close to Fort Lee and the George Washington Bridge. Davidovic represented the seller and vice presidents Don Baxter and Andrew Scheinerman represented the purchaser.
The Newark properties con- sist of two brick buildings, each containing 12 apart- ments with parking and ga- rages. The properties are cen- trally located in the Ironbound section of Newark. Davidovic represented the seller and Davidovic and Greenberg rep- resented the purchaser. The Irvington mortgage and note sale was for a 16-unit mixed-use building with 12 apartments and 4 retail stores. The property was completely renovated in 2007. Davidovic represented both parties in the transaction. n
ORTHERN, NJ — The Kislak Compa- ny, Inc. announced
seven recent investment a n d c o m - mercial sales throughout n o r t h e r n N e w J e r - sey totaling $18.625m. Vice pres-
ident Scott Davidovic rep- resented or co-represented the seller in all of the trans- actions, which include the $7.1m sale of 1.033 acres of land in Hoboken; the $4m sale of 0.34 of an acre of land in Hoboken; the $3.9m sale of a 55-unit multifamily property in Elizabeth; the $1.3m sale of a 26-unit multifamily property in Irvington; the $1.2m sale of a 12-unit multifamily property in Leonia; the $1.125m sale of two multifamily proper- ties with a total of 12 units in Newark; and the $600,000 sale of the mortgage and note on a 16-unit mixed-used property in Irvington. “Scott’s professionalism, hard work and dedication to his clients’ needs have been key to his success,” said presi- dent and co-managing director Robert Holland . “Scott con- tinues to be a top performer at Kislak and these seven deals are just a few examples of his latest accomplishments.” The first Hoboken property consists of 1.033 acres of va- cant land and is located adja- cent to the light rail station. Davidovic co-represented the seller and purchaser. “Hoboken is a great loca- tion for future development,” said Davidovic. “With such a demand for rentals in Hobo- ken, it has become one of the most desirable markets in the state.” The second Hoboken prop- erty consists of vacant ware- house space on six lots in the western portion of Hoboken. Davidovic also co-represented the seller and purchaser. The Elizabeth property con- sists of a five-story elevator building with 55 residential units. The property is cen- trally located near the Elmora section of Elizabeth and Kean University within close prox- imity to major highways and public transportation. Davi- dovic and vice president Jona- than Greenberg represented the seller and purchaser.
55-unit multifamily property in Elizabeth
CELEBRATING OUR 109 TH YEAR
Investment Real Estate Brokerage
Ewing, New Jersey 97 Residential Units Daniel Lanni ext 248
Holmes and Morton, Pennsylvania 67 Residential Units - 3 Properties Matt Weilheimer ext 253
Union City, New Jersey 45 Residential Units Barry Waisbrod ext 272
Lafayette, New Jersey 96,911 SF Retail Center Barry Waisbrod ext 272 Matt Weilheimer ext 253
Ewing, New Jersey 30,000 SF Office Justin Lupo ext 225
Livingston, New Jersey 15,450 SF Retail Scott Davidovic ext 290
multifamily. retail. office.
www.kislakrealty.com 732 750 3000
The Kislak Company, Inc.
Made with FlippingBook - Online catalogs