V.P. Davis Briones Arranges Off-Market Sale of 1.66 Acres in Hudson County

Woodbridge, N.J., March 13, 2023 – The Kislak Company, Inc. announced the recent sale of an approved 1.66-acre assemblage of properties for a 197-unit multifamily development on and around Mechanic Street in Bayonne, Hudson County, New Jersey, for $9,900,000.

The sale included the following six properties:  130-134 Avenue F, Block 450, Lot 1; East 23rd Street Foot of, Block 450, Lot 10.01; Mechanic Street Foot of, Block 450, Lot 10.02; 37 Mechanic Street, Block 450, Lot 22; 39 Mechanic Street, Block 450, Lot 23; and 41 Mechanic Street, Block 450, Lot 24.

Kislak vice president Davis Briones arranged the off-market sale of the properties on behalf of the sellers, an affiliate of RAM Development, and he also procured the purchaser, which was not disclosed. The sellers’ attorney was Maurice Israel Rosenberg, Esq. of Lakewood, New Jersey.

Mr. Briones commented, “Multifamily development within Bayonne and throughout Hudson County remains strong especially for well-located approved sites. This approved site includes a 30-year PILOT program and is within an Opportunity Zone. Development hot spots in Bayonne such as this tend to be within blocks of light rail stations, and I also expect the western side of the city to experience an increase in development soon as well.” 

The planned development includes a six story multifamily building with 197 units, 4,300 square feet of amenity space, on-site parking for 245 cars, and storage for 100 bicycles. The planned unit mix consists of 24 studios, 100 one-bedroom units and 73 two-bedroom units.

Within Bayonne, 8,349 units are either built, under construction or approved, according to the city. Of those, 1,022 units are under construction for completion in 2023 and construction is anticipated to begin on another 1,250 units in 2023 or 2024. Development in Hudson County remained strong throughout 2022 and the trend is expected to continue.

Davis Briones joined Kislak in 2014 and after his first year received the firm’s prestigious Rookie of the Year Award, which recognizes a newer salesperson who records the greatest achievements during the year. Mr. Briones was promoted to a vice president in 2019 after his sales exceeded $100 million and in 2021 was recognized by the Mid-Atlantic Real Estate Journal in its 30 Under 30 Spotlight. In 2022, he was a part of the Kislak team that achieved over $1.2 billion in sales.

About The Kislak Company, Inc.
The Kislak Company, Inc., which is headquartered in Woodbridge, New Jersey, is a leading commercial real estate brokerage firm consistently recognized for its investment sales success. 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 thirty-five professionals provide comprehensive market coverage throughout New Jersey, New York, Pennsylvania, Delaware and Florida.

Now in its 117th year, Kislak was among a select group of firms recognized as a 2021 Power Broker by CoStar Group, Inc. and this was the firm’s 16th consecutive recognition. For the second consecutive year, Kislak was named by NJBIZ as one of its Leaders in Real Estate, Construction and Design in New Jersey.