WOODBRIDGE, N.J. – The Kislak Company, Inc., the dominant investment real estate sales firm in the tri-state region, announced that it has been retained as the exclusive marketing and sales agent for a 136-unit residential portfolio located at 324, 339 and 431 Broadway in Paterson, New Jersey. Vice presidents Jonathan Greenberg and Joseph Keenan are leading Kislak’s assignment.
“With such a low supply of inventory in New Jersey, very few opportunities to acquire over 100 units, and extremely attractive interest rates well below 4%, I believe the portfolio will generate a great deal of consideration,” said Greenberg.
Keenan added, "The portfolio represents a rare acquisition opportunity. These properties are in excellent condition and have been owned by the same family for more than 20 years.”
The properties consist of professionally management and well-maintained studios, one-, two- and three-bedroom units with many upgrades including kitchens and baths. There is on-site parking for 26 cars.
The properties are located approximately 20 minutes from the George Washington Bridge, 25 minutes from the Lincoln Tunnel and 30 minutes from the Holland Tunnel. The area offers major employment including local and state government, St. Joseph’s Regional Medical Center, Home Depot and locally owned businesses.
About The Kislak Company, Inc.
The Kislak Company, Inc., which is headquartered in Woodbridge, N.J., is recognized as the dominant investment sales company serving the multifamily and retail markets. Established in 1906, Kislak’s market leadership position and longevity are due to its ability to offer clients a personalized, hands-on approach, coupled with the unrivaled expertise of its long-tenured team of professionals. Kislak’s prestigious client base includes individual investors and owners, partnerships, financial institutions, and REITs. The firm’s 25 professionals provide comprehensive market coverage throughout New Jersey, New York, Pennsylvania and Delaware.
Now in its 109th year, Kislak was among a select group of firms recognized as a 2013 Power Broker by CoStar Group, Inc. for multifamily sales transactions in northern New Jersey and this was the firm’s eighth consecutive recognition.