Kislak Completes $4.8 Million Multifamily and Office Sales

Senior Vice President Joni Sweetwood Orchestrates Related Transactions
By: The Kislak Comapny, Inc.
 
Oct. 8, 2010 - PRLog -- WOODBRIDGE, NJ, October 6, 2010 — The Kislak Company, Inc., the dominant investment real estate sales firm in the tri-state region, announced the sale of two New Jersey investment properties totaling $4,800,000.  The sales include Brooklawn Court Apartments, a 54-unit multifamily property in Brooklawn that sold for $2,900,000 and an 18,360 square foot multi-tenanted professional office building in Elizabeth that sold for $1,900,000.  In the Brooklawn transaction, senior vice president Joni Sweetwood represented both parties, longtime Kislak clients.  The purchaser of Brooklawn Court Apartments was also the seller of the Elizabeth property.  In that transaction, vice president Andrew Jonas represented the purchaser, a private investor.

“Kislak continues to close investment sales transactions in and around New Jersey,” said Jeffrey Wiener, president and co-managing director.  “The market for multifamily properties remains extremely strong and demand for other types of investment properties is increasing.  We have clients interested in both market deals such as these along with distressed properties, several of which Joni also recently sold.”    

In the third quarter Sweetwood sold three distressed Essex County apartment buildings – two with a total of 24 units were sold for $830,000 on behalf of a court-appointed receiver and one 25-unit building was sold for $1,000,000 on behalf of a bank.

“Joni is a hands-on deal closer and worked tirelessly to get these transactions closed,” said Robert Holland, senior vice president and co-managing director.  “Her success speaks for itself; Joni has sold ten properties so far this year.”  

Built in 1949 and renovated in the late 1990’s, Brooklawn Court Apartments is a two-story garden apartment complex with 54 units in three buildings in suburban Brooklawn, Camden County, on the border of Gloucester County in southern New Jersey.  The complex is well-situated across from the Alice Costello Elementary School, a neighborhood public K-8 school, close to Brooklawn’s commercial district and an easy commute to Philadelphia.

The property consists of all two-bedroom units with many amenities including on-site parking, air conditioning , wall-to-wall carpeting, dishwashers, renovated laundry rooms, basement storage, and new electrical services.  At the time of closing, the property was approximately 97% occupied.

Built in 1961, the Elizabeth office building is a three-story brick elevator building with professional tenants, primarily attorneys and physicians, located in the city’s Elmora section near the county courthouse, the city’s commercial district and all major transportation.  The well-maintained property includes abundant parking and a central HVAC system.  At the time of closing, the property was approximately 96% occupied.

Joni Sweetwood is one of Kislak’s all time leading salespeople.  Since joining the company in 1996, she has sold more than 16,000 multifamily units, including more than 14,000 in New Jersey, and over one million square feet of commercial space.  Ms. Sweetwood has won numerous sales awards at Kislak including the company’s Production Award for the highest annual sales volume and has also been recognized repeatedly by numerous real estate publications for her sales accomplishments.  

Andrew Jonas joined Kislak in 1993 and is one of Kislak’s most prolific salespeople, having closed many high-profile transactions including Kislak’s 2009 “deal of the year,” the $30,000,000 sale of a 432-unit multifamily property in Newark, Delaware.

The Kislak Company, Inc., which is headquartered in Woodbridge, New Jersey, is recognized as the dominant investment sales company serving the multifamily and retail markets.  Established in 1906, Kislak’s market leadership position and longevity is due to its ability to offer clients a personalized, hands-on approach, coupled with the unrivaled expertise of its long-tenured team of professionals.  Kislak’s prestigious client base includes individual investors and owners, partnerships, financial institutions REITs.  The firm’s 25 professionals provide comprehensive market coverage throughout New Jersey, New York, Pennsylvania and Delaware.  

Now in its 104th year, Kislak was among a select group of firms recognized as a 2009 Power Broker by CoStar Group, Inc. for multifamily sales transactions throughout the northern New Jersey market in 2009.

# # #

Established in 1906, The Kislak Comapny, Inc. is the dominant investment sales company serving the multifamily and retail markets throughout New Jersey, eastern Pennsylvania, southern New York and Delaware.
End
Source:The Kislak Comapny, Inc.
Email:***@kislakrealty.com Email Verified
Zip:07095
Tags:Kislak, Real Estate, Multifamily, Office, Brooklawn, Elizabeth, New Jersey
Industry:Multifamily, Office, New jersey
Location:Woodbridge - New Jersey - United States
Account Email Address Verified     Account Phone Number Verified     Disclaimer     Report Abuse
The Kislak Company, Inc. News
Trending
Most Viewed
Daily News



Like PRLog?
9K2K1K
Click to Share