X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CAMDEN, NJ-The Kislak Co. inked two deals to sell three properties here for just over $18 million. Kislak vice president Barry Waisbrod completed the deals.

The biggest deal was the $11.9 million sale of Crescent Gardens and Gramercy Park Apartments. Waisbrod tells GlobeSt.com that the buyer was Plainfield-based Connelly Properties. Crescent Gardens is a 240-unit complex located at 1622 Independence Rd., and Gramercy Park is a 104-unit complex located at 2880 Hull Rd. The seller, Waisbrod tells GlobeSt.com, was Kushner Properties, which was represented by Kislak president and co-managing director Jeffrey Wiener.

“The sale of Gramercy Park Apartments and Crescent Gardens was especially noteworthy for our firm as it represented the sale of Kushner Properties’ final New Jersey Property, part of their $2-billion portfolio,” says Waisbrod in a company statement.

The mixed-use office/warehouse property at 2600 Mount Ephraim Ave. sold for $6.3 million to Camden-based Paramount Properties Group, Waisbrod tells GlobeSt.com. The fully leased property houses a 24,000-sf warehouse and 91,000 sf of office space designed to resemble a retail center. Several federal, state, county and local offices are located there, including the Army/Navy recruitment center, the New Jersey department of labor and the Camden DMV. A 2,500-sf pad site is under construction for a Popeye’s Chicken. Waisbrod tells GlobeSt.com that 2600 ME Holdings of Camden was the seller. Waisbrod represented both the buyer and the seller in the transaction.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS SPRING 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.