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Kislak Completes $6M Multifamily Sale

WESTWOOD, NJ-The three-building sale consists of 42 residential units and one commercial space.

By Alyson Grala | Updated on July 31, 2009

WESTWOOD, NJ-The Kislak Company Inc. recently completed the sale of three apartment buildings comprising 42 residential units and one commercial space here. The sale included Hampton West Apartments, an 18-unit property with a medical office located at 153-161 3rd Ave.; Sutton Place Apartments, a 17-unit property at 57 Crest St.; and Hampton East Apartments, a seven-unit property located at 19 Crest St.

Hampton West sold for $2.9 million while Sutton Place and Hampton East traded together for $3.1 million. Kislak vice president Matt Weilheimer represented the seller in each transaction and also the private investor purchaser of Hampton West. Sales associate Joseph Keenan represented the purchaser, also a private investor, of Sutton Place and Hampton East.

“The sale of these properties illustrates both the strength of multifamily investment properties in Northern New Jersey, especially in A-plus locations, and the continued demand for multifamily properties,” Weilheimer says. He adds that these transactions were unique in that the seller of all three properties was the original builder and the properties had never before been available.

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