Three Multifamily Sales in Elizabeth, NJ Yield More Than $12M

Maple Bay Estates, 532 Maple Avenue, Elizabeth, NJ, with Kislak Company vice president Jeff Squires, who brokered its recent sale.

ELIZABETH, NJ—Three separate transactions involving five multifamily properties in Elizabeth, Union County, NJ yielded $12.256 million. The three transactions include the sale of Maple Bay Estates, a 24-unit apartment building for $5.925 million; a three-building, 44-unit portfolio for $4.576 million; and a 20-unit mixed use property on Rahway Avenue that sold for $1.755 million.

Kislak Company vice president Jeff Squires represented the seller and purchaser in each transaction. Purchaser names were not disclosed, but according to Real Capital Analytics, a proprietary research database, Maple Bay Estates was owned by Antoun Nader and  Leonardo J. Tallo. Owners of the other properties could not be determined from public sources.