HACKENSACK, NJ—The Kislak Company, Inc. reports it has brokered the sale of three Bergen County multifamily properties totaling nearly $19 million.

The transactions include the $13.28-million sale of Cambridge Arms Apartments, a 101-unit mid-rise apartment building in Hackensack; the nearly $3-million sale of a 28-unit garden-style apartment complex in Hackensack; and the $2.6-million sale of a 19-unit all-brick multifamily building in Ridgefield Park.

“Bergen County is among the strongest markets in New Jersey for multifamily properties,” says Robert Holland, president and co-managing director in a prepared announcement “There is extraordinary demand there and elsewhere in New Jersey, and these sale prices are indicative of the demand among investors for well-performing properties in desirable locations.”

The largest transaction involved the sale of the Cambridge Arms Apartments in Hackensack. The 101-unit all brick mid-rise apartment building located on Polifly Road in Hackensack was constructed in 1967. Co-managing director Kislak Jeffrey Wiener represented the seller and vice president Jonathan Greenberg represented the purchaser.

“The sale of Cambridge Arms marked our 61st transaction with the seller,” said Wiener. “We marketed the property on an exclusive basis and, given the demand in the market, procured an aggressive local purchaser eager to expand his multifamily portfolio in Bergen County.”

Financing was provided by Columbia Bank. At the time of closing, the property was approximately 96% occupied. The other two properties that were traded were both 100% occupied at closing. Kislak did not identify the seller or the buyers in all three transactions.