E.V.P. Joni Sweetwood Arranges Exclusive Sale of Three Properties with 258 Units

Woodbridge, N.J., June 27, 2024 – The Kislak Company, Inc. announced the recent sale of a three-property multifamily portfolio with a total of 258 units in Atlantic City, Atlantic County, New Jersey, for $20,500,000.

The portfolio includes Atlantic Venice Park Apartments with 112 units at 1922 Beach Avenue, 1917 North Columbia Avenue and 1925 North Arkansas Avenue; Venice Park Condominiums with 78 units operated as rentals at 2304 Sheldon Avenue, 2304 Hamilton Avenue, and 905 West Riverside Drive; and Hamilton Venice Apartments with 68 units at 1801 North Mississippi Avenue and 1800 North Missouri Avenue.

Kislak marketed the portfolio on an exclusive basis with executive vice president Joni Sweetwood handling the assignment on  behalf of the sellers, Atlantic Venice Park, LLC; Venice Park, LLC; and Hamilton Venice Park, LLC. Ms. Sweetwood also procured the purchaser, which was not disclosed. All parties are longtime Kislak clients for whom Ms. Sweetwood has completed many other sales. 

The record sale represents the largest multifamily sale in Atlantic City in at least 10 years and the largest multifamily sale in Atlantic County in over a year according to data available from CoStar.

Ms. Sweetwood commented, “The offering presented a unique opportunity to acquire a large number of units with upside potential in the Atlantic City market. The purchaser intents to renovate the units and improve the properties.”

Bult in 1970, the portfolio consists of 33 two-story buildings with 258 garden-style residential units in a quiet, island-like residential neighborhood in suburban Atlantic City. The unit mix includes 237 two-bedroom units and 21 one-bedroom units. The properties are within distance to the water, close to the Atlantic City boardwalk, shopping, hotels and casinos and near Routes 30 and 40 and the Atlantic City Expressway.

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.