M id A tlantic Real Estate Journal — New Jersey — October 21 - November 17, 2022 — 3B N ew J ersey
www.marej.com
Executive vice president Joni Sweetwood arranges sale of 68 units The Kislak Company, Inc. sells multifamily portfolio in The Oranges, NJ for $8 Million
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in 2010, 2011, 2012 2013, and 2018. She has also been recognized repeatedly as one of New Jersey’s Commercial Broker All Stars and the Mid Atlantic Real Estate Journal’s Executive Women in Business. Her career investment sales total more than $1.3 billion. About The Kislak Company, Inc. The Kislak Company, Inc., which is headquartered in Woodbridge, New Jersey, is a leading commercial real estate brokerage firm consistently recognized for its investment sales success. MAREJ
SSEX COUNTY, NJ — The Kislak Com- pany, Inc. announced
the recent sale of two multifamily properties in the Orang- es in Essex County for $8 million. The properties in- clude 57-61A
Joni Sweetwood
East Park St. in East Orange with 22 units and 463-475 Park Avenue in Orange with 46 units. Executive vice president Joni Sweetwood arranged the sale on behalf of the seller, Al-Kel Realty, LLC, a longtime Kislak client and third-gener- ation owner of the properties. Sweetwood also procured the purchaser, Shelly Holders, LLC, another repeat client. “This purchase was a ‘home- run’ for the purchaser since the properties are in the best parts of the areas where they currently own,” Sweetwood commented. Reflecting on current market trends, she added, “Purchasers seek older properties in great locations to add value to their portfolios.” The East Orange property, a two-story, brick, garden apart- ment building, consists of six studios, eight one-bedroom units, and eight two-bedroom units with onsite parking and professional landscaping. The Orange property, which is just minutes away, is a three- story, brick, garden apartment complex with 46 one-bedroom units, some with balconies and all with onsite parking. Both properties are located in quiet suburban areas within walking distance to schools and restaurants; near multiple New Jersey Transit stops; un- der a five-mile radius near sev- eral large nature preserves; and Newark Airport 10 miles away. Subsequent to contract signing, units were kept in- tentionally vacant with all apartments projected to be substantially upgraded on turnovers with exteriors and common areas included in the enhancements. Joni Sweetwood joined Kis- lak in 1996 and is one of the firm’s all-time leading sales- people. She has won numerous awards, including the Sima Kislak Jelin Salesperson of the Year award in 2010 and the company’s production award
EXCLUSIVE PROPERTIES FOR SALE
Allentown, PA 24 Loft-Style Units + 8 Units To-Be-Completed Robert Holland ext 285 Matt Wolf ext 237
West New York, NJ 13 Units Davis Briones ext 370
Guttenberg, NJ 9 Units + 1,200 SF Retail Thomas Scatuorchio ext 255 Michael Salomon ext 243
West Orange, NJ 3 Buildings | 13,647 SF Mixed-Use Jeff Squires ext 246 Joni Sweetwood ext 273
Howell, NJ 19,300 SF Industrial Complex Daniel Lanni ext 248
Livingston, NJ 13,690 SF Medical Office Scott Davidovic ext 290
The Kislak Company, Inc. | kislakrealty.com | 732 750 3000
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