2B — December 2023 — New Jersey — M id A tlantic Real Estate Journal
www.marej.com
N ew J ersey
Waisbrod arranges sale of 30 units via auction in partnership with Ten-X Kislak sells Riverbank Commons in Trenton, NJ for $3.05 Million
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Riverbank Commons is a three-story all brick apart- ment building situated on a quiet residential street along the Delaware River. The unit mix includes three efficiencies, 12 one-bedroom units and 15 two-bedroom units. The prop- erty includes two parking lots with four driveways and many recent capital improvements. “This auction sale was our third in Trenton in partner- ship with Ten-X,” said Jason Pucci , CEO. “In each instance, Evan Ko- ransky and his team at Ten-X did an excellent job from start to finish and all parties were pleased with the results.” The prior sales included Ty- ler Apartments, a 26-unit mul- tifamily property at 272 Tyler Street, that sold for $2,550,000 in July 2023 and a mixed-use property at 334 South Broad Street that sold for $575,000 in September 2022. Trenton is the capital of New Jersey and the seat of Mercer County. It is located near the geographic center of the state approximately 66 miles southwest of New York City and 33 miles northeast of Philadelphia. As of the 2020 U.S. census, Trenton was the state's 10th-most populous municipality, with a popula- tion of 90,871. Barry Waisbrod joined Kis- lak in 2001 and is consistently among the firm’s leading sales- people. He specializes in the sale of multifamily and other invest- ment properties throughout New Jersey and its neighbor- ing states. MAREJ
Mercer Investments Realty, LLC , purchased the property. Kislak also handled the prior sales of Riverbank Commons in 1987, 1998 and 2003. Waisbrod said, “The seller is a longtime landlord with a large presence in Trenton and has been exchanging some of his smaller properties into larger suburban properties in southern NJ and eastern PA. The purchaser invests in real estate throughout mercer County. This was an opportu- nity for him to acquire a clean property with upside in a nice section of Trenton not far from his other properties.”
OODBRIDGE, NJ — The Kislak Company, Inc.
announced the recent sale of Riverbank Commons, a 30-unit multifamily property at 2030 Riverside Drive in Trenton, Mercer County, New Jersey, for $3,050,000. Kislak marketed the prop- erty on an exclusive basis with Barry Waisbrod handling the assignment on behalf of the seller, River Bank Rent- als, LLC, a longtime client. Kislak partnered with Ten-X to facilitate an online managed bid auction with successful re- sults. The winning bidder, NJ
2030 Riverside Drive
FOR SALE APPROVED MULTIFAMILY DEVELOPMENT FOR 248 UNITS 17 +/- ACRES ADJACENT PARCEL ZONED FOR SINGLE FAMILY RESIDENTIAL DEVELOPMENT
• Large Fully Approved Development along the Maryland-Delaware Border • Salisbury, Maryland-Delaware Metropolitan Statistical Area • Growing Population and Great Local Schools • Near Salisbury University, Ocean City, MD and Regional Commercial Attractions
NJPA
a section of the MARE Journal Phone: 781-740-2900 www.marej.com
S ection P ublishers Linda Christman lchristman@marejournal.com
26 +/- ACRES DELMAR, MD
EXCLUSIVELY LISTED BY: BARRY WAISBROD EXECUTIVE VICE PRESIDENT bwaisbrod@kislakrealty.com 732 750 3000 ext. 272
Lea Christman lea@marejournal.com
S ection E ditor Karen Vachon editor@marejournal.com
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