ELIZABETH, NJ–Pricing is strong in the Elizabeth multifamily market. The Kislak Company brokered the sale of a three-building, 62-unit multifamily portfolio in Elizabeth, NJ for $5.27 million. It's the largest multifamily sale in Elizabeth in terms of price since 2011 based on available data.
Kislak vice president Jeff Squires represented both parties in the transaction.
The properties are located on Morris Avenue and North Avenue, and two of the properties are located across from Kean University near mass transit and the Elmora section of Elizabeth. This particular portfolio of properties includes two and a half story garden apartments with onsite parking that were built in the 1960s.
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