M id A tlantic Real Estate Journal — New Jersey — April 22 - May 19, 2022 — 3B


N ew J ersey

Senior VP Robert Squires and VP Michael Kossak arrange sale Kislak sells Caldwell, New Jersey multifamily property for $3.5 Million


The property is located on a high traffic commercial cor- ridor with convenient access to bus lines and two commuter rails. The Upper Montclair and Little Falls lines are within five miles. Robert Squires joined Kis- lak in 2003 and specializes in the sale of multifamily and other investment properties throughout New Jersey. Con- sistently among the firm’s leading producers, he received Kislak’s 2017 and 2016 Sima Kislak Jelin Salesperson of the Year award and its 2017 Producer of the Year award.

Michael Kossak joined the firm in 2016 and specializes in the sale of investment proper- ties in Essex County. 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. Now in its 116th year, Kislak was among a select group of firms recognized as a 2021 Power Broker by Co- Star Group, Inc. and this was the firm’s 16th consecutive recognition. MAREJ

ALDWELL, NJ — The Kislak Compa- ny, Inc. announced the

recent sale of a 15-unit multifamily property with f our re ta i l spaces at 412- 416 Bloom- field Ave. in Caldwell, Es- sex County, f o r $3 . 465 million. K i s l a k m a r k e t e d the property on an exclu- s i v e b a s i s with senior v i ce pres i - dent Robert

Robert Squires

412-416 Bloomfield Avenue

Michael Kossak

Squires leading the assign- ment on behalf of the seller Jenn & Ann Caldwell Re- alty, LLC . Vice president Michael Kossak procured the purchaser, 412-416 Bloom- field Avenue, LLC. Squires remarked: “There is a huge demand for well- maintained apartment build- ings in northern New Jersey and these buildings, in a great rental market, offer a large upside in rents. It was such a pleasure to work on this trans- action in which the owners engaged us to represent them in the sale of this beautiful, pre-war building. We demon- strated significant value by generating a dozen offers, with the sellers proceeding with the highest and best offer.” B u i l t i n 1 9 2 7 , t h e 10,000-square-foot three-story brick building includes one studio, six onebedroom units, two two-bedroom units, and four stores. Nine of the resi- dential units have been fully renovated with new kitchens and bathrooms; the others with below market rents pro- vide large financial upside. Other highlights include a new boiler and a video camera system. Noting the seller is a repeat Kislak client, Mr. Kossak com- mented: “We demonstrated that our relationships with and knowledge of the active in- vestors in our markets enabled us to pair the best buyer with the sellers. This is the second transaction that we completed for the seller. We recently sold another mixed-use building for them in Caldwell. It was also a pleasure representing the buyer who is a valued client.


Westport, CT 28 Units Andrew Scheinerman ext 247

Bayonne, NJ 24 Units Davis Briones ext 370

Hoboken, NJ 21 Units

Robert Squires ext 287 Scott Davidovic ext 290

Jersey City, NJ 21 Units Davis Briones ext 370

Guttenberg, NJ 9 Units + 1,200± SF Retail Tom Scatuorchio ext 255 Michael Salomon ext 243

Newton, NJ 5 Mixed-Use Units Joseph Keenan ext 256

The Kislak Company, Inc. | kislakrealty.com | 732 750 3000

Made with FlippingBook Online newsletter maker