S.V.P. Janet Bortz & E.V.P. Joni Sweetwood Arrange Exclusive Bulk Sale of 46 Units in Union County
Woodbridge, N.J., June 21, 2024 – The Kislak Company, Inc. announced the recent bulk sale of 46 units at Tudor Court, a cooperative with a total of 85 units, at 800-822 North Broad Street in Elizabeth, Union County, New Jersey, for $5,200,000.
Kislak marketed the units, which represent a majority of the cooperative, on an exclusive basis with senior vice president Janet Bortz and executive vice president Janet Bortz handling the assignment. They also procured the purchaser, a longtime Kislak client who purchased the units on an all-cash basis. The parties were not disclosed.
Ms. Bortz commented, “Within two weeks of the seller engaging us on an exclusive basis, we procured a Bergen County-based buyer who proceeded at the asking price. The large units with below market rents offer excellent upside potential for the purchaser.”
Ms. Sweetwood added: “Selling 46 co-op apartments within a larger building is much more complex than selling a traditional 46-unit building. However, by working with Janet Bortz and Jeffrey Itzkowitz of Brach Eichler, we were able to seamlessly resolve issues that stemmed from the transactional complexities.”
Tudor Court is a an all brick, garden style cooperative property located in the desirable North Broad residential section of Elizabeth conveniently located near New Jersey Transit, shopping, and Kean University. The seller operated the units as rentals, which were historically fully occupied with a waiting list.
Janet Bortz joined Kislak in 2002 and is a leading producer at the firm, and in New York’s Hudson Valley where she specializes in the sale of investment properties including multifamily, retail, office, and industrial assets. Ms. Bortz represents individual owners, multigenerational private investors, real estate firms and institutional clients in the acquisition and disposition of investment real estate. Her recent transactions included several multifamily sales in New York for more than $100 million. Ms. Bortz is a licensed real estate salesperson in New York and New Jersey.
Joni Sweetwood joined Kislak in 1996 and is one of the firm’s all-time leading salespeople consistently ranking as a top producer each year. She has won numerous sales awards, including the Sima Kislak Jelin Salesperson of the Year award, the company’s Producer of the Year award five times and the company’s Sales Transactions award for the most closed sales transactions in the last three years. Ms. Sweetwood has also been recognized repeatedly as one of New Jersey’s Commercial Broker All Stars and the Mid Atlantic Real Estate Journal’s Executive Women in Business. Her career investment sales total more than $1.3 billion.
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 professionals provide comprehensive market coverage throughout New Jersey, New York, Pennsylvania, Delaware, and Florida.
Now in its 118th year, Kislak was among a select group of firms recognized as a 2023 Power Broker by CoStar Group, Inc. and this was the firm’s 18th consecutive recognition. Kislak was also named by NJBIZ as a 2024 Leader in Real Estate, Construction and Design and this was the firm’s third recent recognition.
