N ew J ersey 4B — December 18 - January 14, 2020 — New Jersey — M id A tlantic Real Estate Journal


Lupo and Pucci arrange sale of Luxury Active Adult Community The Kislak Company sells Twin Ponds in Hamilton, NJ for $16.4 million


and procured the purchaser, an affiliate of The Kamson Corporation , which is one

AMILTON TWP. , NJ — The Kislak Company, Inc. an-

of the largest private own- ers of multi- family prop- erties in the Nor theas t . Vice presi - dent Justin Lupo and chief operat-

nounced the recent sale of Twin Ponds, a luxury ac- t i v e adu l t communi ty in Hamilton Twp. , Mer- cer County, for $16.4 mil- lion.

Jason Pucci

Justin Lupo

ing officer Jason Pucci to- gether represented the parties in the transaction. Twin Ponds is a phased development. The first phase with 56 units was completed

Kislakmarketed the proper- ty on an exclusive basis on be- half of the sellers, Crestwood Ventures LLC and Crest - wood Ventures II LLC ,

Twin Ponds

“The marketing and sale of the property were complex given the various components of the transaction – the exist- ing units and additional units to be built along with the purchaser’s exchange,” said Lupo. “The sale demonstrated Kislak's ability to successfully resolve many issues through- out the transaction and pro- cure the right purchaser per the terms of our exclusive agreement with the sellers.” “Mercer County is a strong and growing market for multi- family properties,” said Pucci. “This was an excellent trans- action for both parties – the conclusion of a successful development for the sellers and the partial completion of an exchange and an upgrade from an older lesser qual- ity out-of-state property to a luxury one for the purchaser. Our team did an excellent job arranging the sale and help- ing to ensure a successful closing.” Kamson’s purchase of Twin Ponds marked Kislak’s 65th transaction with them. The property’s existing units range from 900 to 1,125 s/f and include all two-bedroom units with two bathrooms. The purchaser’s attorneys were Allen Popowitz and Samantha Karni of Brach Eichler. Lupo joined Kislak in 2014, and received the firm’s 2015 Rookie of the Year award, 2018 Sima Kislak Jelin Sales- person of the Year award, and 2019 Producer of the Year award and has become one of the firm’s leading salespeople with investment sales totaling more than $300 million. Pucci joined Kislak in 2006 and is responsible for the oversight and management of the firm’s operations, business activities and growth initia- tives including achievement of its financial and operational objectives. MAREJ

in 2009. The second phase with 19 units and a clubhouse was completed in 2020. The

purchaser intends to construct the third phase with 69 units planned.


Belleville, NJ 7 Units and 3 Garages Tom Scatuorchio ext 255

Jersey City, NJ 9 Units Scott Davidovic ext 290

Asbury Park, NJ 13 Units Daniel Lanni ext 248

Marlboro, NJ 6± Acres of Land Matt Weilheimer ext 253

Chatham, NJ 2 Units and 2 Retail Tom Scatuorchio ext 255

Roxbury, NJ 14,200 SF Retail Building Tom Scatuorchio ext 255

The Kislak Company, Inc. | kislakrealty.com | 732 750 3000

Made with FlippingBook flipbook maker