18B — April 13 - 26, 2018 — New Jersey — M id A tlantic
Real Estate Journal
www.marejournal.com
N ew J ersey
Located at 255-271 South Harrison St. and 296-310 South Harrison St. SVP Sweetwood of Kislak orchestrates sale of two properties East Orange for $12.75 million
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wood. “East Orange is a very strong rental market in north- ern New Jersey and these properties are located near a train station and surrounded by new luxury developments. The properties were the focus of a bidding war among poten- tial purchasers.” Harrison Gardens is a brick mid-rise building consisting of 27 one-bedroom and 61 two-bedroom apartments. The property has undergone exten- sive upgrades in the last 10 years with the replacement of roofs, boilers, the hot water heater, expansion tanks and fire alarm system along with the installation of a surveil- lance system. Onsite surface parking is available for ten- ants and the property is less than one mile from the Brick Church train station. Down- town Newark and midtown Manhattan are short com- mutes as they are only five miles and 15 miles, respec- tively, from the property. Elm Gardens, a two-story garden apartment complex consisting of all one-bedroom units, likewise has been up- graded in the last seven years with the replacement of the hot water heater, boiler, expansion tank, fuse boxes, thermostats and windows. Garages and surface spaces make for abun- dant onsite parking. “The properties also have value-add potential given their location and the purchaser intends to upgrade the proper- ties to the luxury standards of the area,” added Sweetwood. n The Goldstein Group welcomes Riley to their team PARAMUS, NJ — Chuck Lanyard , president of The Goldstein Group announced that Frank Riley has joined the firm as part of the com- pany’s continuing expansion plans of their leasing and sales team. “We are pleased to wel- come Frank to our team,” said Chuck Lanyard, president of The Goldstein Group. “His extensive sales experience in both brokerage and the product development side of real estate will make him an invaluable asset to our team.” Riley brings to The Gold- stein Group nearly five years of commercial real estate expe- rience. Most recently, he was a sales executive at Xceligent. n
ast Orange, NJ — The Kislak Com- pany, Inc. announced
the $12 . 75 million sale of two multi- family prop- erties in East Orange: Har- r i s on Ga r - dens, an 88- unit property at 255 - 271
Joni Sweetwood
South Harrison St.; and Elm Gardens, a 44-unit property at 296-310 South Harrison St. Senior vice president Joni Sweetwood marketed the
Harrison Gardens
Elm Gardens
properties on behalf of the seller, a long-term client, and represented the purchaser, a
private investor. “These were the seller’s last properties in one of the most
exclusive neighborhoods in East Orange and they were at full occupancy,” said Sweet-
Remco Realty Group 370 Campus Drive, Suite 128 Somerset, NJ 08873 T: 732-253-0888
For Sale: SomerSet, NJ Remco Realty Group’s President, Peter Gallicchio is pleased to announce the firm’s recent appointment as exclusive marketing agent for this free-standing 25,000 SF commercial building located next to a 6 month old Super Wawa Gas/Convenience Center. The property, which is being offered for sale, features 125’ of Route 27 frontage, highway signage, and 2.7 acres of land for future expansion. The immediate trade area, which located just minutes from downtown New Brunswick, is going through various phases of re-development, with several multi-family projects being completed, as well as large scale downtown medical and commercial projects in the planning stage. The site benefits from its immediate access to Rtes. 1, 9, 18, 130, I-287, NJ Tpke. and the Garden State Pkwy. Trade area demographics include a population of over 265,000 within a 5 mile radius earning over $98,000 of median household income. The property is zoned (GB) general business which allows for most retail, medical and professional uses. Ideal Uses include: Appliances, kitchen & bath, pools & patio, flooring & tile, HVAC, plumbing, building & electrical suppliers, furniture, sporting goods, equipment rental, lighting showroom, fitness, hardware, surgical supplies, home improvements & furnishings, printing & publishing, offices, education, etc.
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