ELIZABETH, NJ-The Woodbridge-based Kislak Co.has just completed four multifamily sales in Elizabeth totaling$5,030,000, GlobeSt.com has exclusively learned.
The transactions include:
- a $2.6 million sale of two buildings with a total of 29 unitson Green and Summer Streets
- a $1,675,000 sale of a 20-unit building on Westfield Avenue,and
- a $755,000 sale of an 11-unit building on Monroe Street.
Kislak vice-president Jeffrey Squires wasinstrumental in each sale.
Robert Holland, president of the company, saysthese sales are examples of long-time owners putting theirproperties on the market. “The very low interest rates arecontributing to the demand among buyers and premium pricing,”Holland says, noting that the average per-unit price in this groupof 60 units topped $83,000.
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