14D — May 11 - 24, 2018 — NJAA Conference & Expo — M id A tlantic

Real Estate Journal


2018 NJAA C onference & E xpo

orth Bergen, NJ — The Kislak Company, Inc. an- Luxury Hudson Countymultifamily sale follows 2013 land sale arranged by Holland &Davidovic The Kislak Company, Inc. finalizes $29 million sale of PLAZA 53 IN North Bergen, NJ N Davidovic represented the seller and developer, 1122 53rd Street Urban Renewal

“Hudson County is among the hottest development mar- kets, especially for multifam- ily properties, in the Tri-State Area,” said Davidovic. “The seller-developer capitalized on the demand for new luxury product, which many inves- tors are seeking.” “North Bergen is an ex- tremely strong market given its population and proximity to New York City and points throughout northern New Jersey,” said Holland. “This sale presented an opportunity for the purchaser to acquire a new luxury apartment build- ing in the heart of the city, only minutes from the water- front and Manhattan.” Apartments are outfitted with designer-styled kitch- ens with granite counters and under-mounted sinks; energy efficient lighting and stainless-steel appliances. There are hardwood floors throughout along with over- sized windows, natural gas heating, individual washer and dryer and built-in master bedroom closets with abun- dant storage. Other amenities include a fully equipped fitness center with steam and sauna; club- house with media/game room; business center; and outdoor pool in a landscaped setting. A multi-level garage with ample indoor parking makes for commuters’ ease. On-site maintenance and manage- ment ensures dedicated at- tentiveness to tenant and property needs. Convenience to mass tran- sit is available via bus and light rail along the busy north-south corridors to Wee- hawken, Bayonne, Jersey City and Hoboken and into upper and mid-Manhattan via Hudson-Bergen Light Rail and NJ Transit. Rtes. 3, 9, and 495, the Lincoln Tun- nel and NJ Tpke. provide an easily-accessible commute into NYC, Newark, and points south. North Bergen is an “Urban Enterprise Zone” designated by the state to provide various incentives for local businesses whereby the revenue from reduced sales tax on goods and services is kept in a fund and funneled back into the township for specific economic development and physical im- provement projects. It is one of the most densely populated areas in New Jersey. 

nounced the recent sale of Plaza 53, a new luxury multifamily property, for $25.4 million. The transac- tion repre- sented the

L LC , a n d p r e s i d e n t Robert Hol- land repre- sented the purchaser , RK 53 Ur- ban Renewal LLC. The prop-

Scott Davidovic

Robert Holland

completion of the development of a 2.32-acre parcel, the sale of which Kislak also handled in 2013 for $3.6 million. The total sale price was $29 million. Senior vice president Scott

erty is a new five-story class “A” apartment complex with 122 units located at 1122 53rd Street in North Bergen, Hudson County, New Jersey. A wide choice of spacious floor

Plaza 53

plans are available for three units – one bedroom/one bath, one bedroom/den/two baths, and two bedrooms/two baths. Square footage ranges from

785 to 1,015 with monthly rents starting at $1,850 for the smallest units and up- wards of $2,295 plus for the largest units.

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