Real Estate Journal — Owners, Developers & Managers — November 24 - December 7, 2017 — 21B


M id A tlantic

O wners , D evelopers & M anagers

Squires and Scheinerman orchestrate sale of 48-unit luxury building The Kislak Co. sells Gold Leaf Manor in Linden, NJ for $8.15 million

inden, NJ — The Kis- lak Company, Inc. an- nounced the recent $8.15 million sale of Gold Leaf Manor, a 48-unit luxury multifamily property located at 401 Roselle St., Linden. Senior vice president Jeff Squires marketed Gold Leaf Manor on an exclusive basis and sales associate Andrew Scheinerman represented the purchaser. The seller was the Gold Organization, LLC, the original developer of the property and the purchaser was Linden Apartment, LLC, a private regional investor. Constructed in 2006, Gold Leaf Manor is a three-story modern luxury elevator apart- ment building located in the heart of Linden in Union Coun- ty, New Jersey on nearly one acre. The property includes stu- dios and one- and two-bedroom units all with abundant luxury amenities and on-site parking. The one- and two-bedroom units include balconies. “Golf Leaf Manor is one of the area’s premier steel and masonry apartment proper- ties located just 20 miles from New York City,” said Squires. “There was tremendous inter- est from regional investors and the ultimate buyer closed in 60 days from signing on an all-cash basis.” “This was our first transac- tion with the purchaser and it was a pleasure working with him,” said Scheinerman. “He was especially attracted to the central location of the property and the upside potential in rents following further reno- vations. Gold Leaf Manor is a unique asset in the area and the purchaser recognized and took advantage of the opportu- nity to acquire it.” The property is conveniently located one-half mile from the Linden Train Station among ample commercial offerings only minutes from the New Jersey Turnpike, Garden State Parkway and U.S. Highway 1 and 9. Linden is a very strong rental market. It is part of the New York Metropolitan Area, lo- cated approximately 13 miles southwest of Manhattan and bordering Staten Island across the Staten Island Sound. Squires joined Kislak in 2007 and specializes in the sale of multifamily and other investment properties through- out northern New Jersey. He received Kislak’s 2008 Rookie L

in the sale of multifamily and other investment properties throughout northern New Jer- sey. Scheinerman received Kislak’s 2011 Rookie of the Year award. The Kislak Company, Inc. is a leading commercial real estate brokerage consistently recog- nized for its investment sales success. Established in 1906, Kislak’s market leadership po- sition and longevity are due to its ability to offer clients a per- sonalized, hands-on approach, coupled with the unrivaled expertise of its long-tenured team of professionals. n

Jeff Squires

Andrew Scheinerman

of the Year award, 2012 Sima Kislak Jelin Salesperson of the Year award and the 2014 and 2016 Producer of the Year award. Scheinerman joined Kislak in 2011 and also specializes

Gold Leaf Manor

Our Safety Group members saved over

in the last 8 years on Workers Comp costs. How much did you save? $ 1,662,554

Significant upfront discounts on Workers Comp! Declared dividends six years in a row! *

For further details on how to gain the rewards of participating in the new Professional Real Estate Owners and Managers Association Inc. Safety Group #204, please contact: Neil Owens, CIC, Esq. Safety Group Administrator neil_owens@cohenins.com Tel: 973-403-9500 • 800-277-9505 Fax: 973-403-7755

Savings on the cost of Workers Comp coverage are now possible for eligible members of the NJAA who join our unique Workers Compensation Safety Group. Participation also offers these advantages: • Up front discount – most other carriers have reduced or eliminated managed care and other credits • Potential dividend based on experience of this large group – 6 year average of declared dividends is 8.00%* • Easier audit process due to calendar year policy • Customized risk management with the insight of E. B. Cohen experts

1250 Broadway, 36th Floor, New York, New York 10001 • 212-977-9500

Insurance Agents Brokers, Consultants & Risk Managers for the Real Estate Industry

*Past performance is no guarantee of future results. 2015 to be declared December 2016.

101 Eisenhower Parkway, Roseland, NJ 07068 • www.cohenins.com

Made with FlippingBook - Online magazine maker