S.V.P. Andrew Scheinerman Arranges Exchange & Portfolio Sale of 116 Units in Hackensack & Lodi

Woodbridge, N.J., June 2, 2026 – The Kislak Company, Inc. announced the recent sale of the following three multifamily properties in Bergen County for a total of $20,725,000:

• River View Apartments, a 28-unit property at 60 South Main Street in Lodi for $6,100,000;
• Royal Court Apartments, a 59-unit property at 5 Pangborn Place in Hackensack for $9,700,000; and
• Windsor Apartments, a 29-unit property at 70 Anderson Street in Hackensack for $4,925,000.

Kislak marketed all of the properties on behalf of the sellers, the Hackensack properties exclusively, with senior vice president Andrew Scheinerman handling the assignments, and he also procured the purchasers. The parties were not disclosed

“River View Apartments commanded one of the highest prices per unit ever achieved for a vintage multifamily asset in Lodi, underscoring the market’s appetite for quality apartment investments, commented Mr. Scheinerman. “Royal Court and Windsor Apartments offered an exceptionally rare opportunity, having been owned by the same family for more than eight decades before the owners chose to capitalize on today’s strong investment market.” 

The seller of River View Apartments completed an I.R.C Section 1031 Exchange sale with the purchase of Royal Court Apartments, and that purchaser also purchased Windsor Apartments.

River View Apartments is a two-story brick apartment building comprised of 28 updated units including two studio apartments, 14 one-bedroom/one-bath apartments, and 12 two-bedroom/one-bath apartments. The property also includes onsite parking and featured a 20% to 25% increase in rent roll during ownership.

Royal Court Apartments was offered for sale for the first time in more than 50 years. Constructed in 1937, the five-story, 37,400-square-foot brick building is comprised of 59 residential units including nine junior one-bedroom apartments, 35 one-bedroom apartments, 12 large one-bedroom apartments with dining rooms, and three two-bedroom apartments with dining rooms.

Windsor Apartments also traded for the first time in more than 50 years and sold for $4,925,000. Built in 1925, the four-story, 27,800-square-foot brick building consists of 29 residential units including four efficiency one-bedroom apartments, 12 one-bedroom apartments, 12 two-bedroom apartments with dining rooms, and one three-bedroom basement apartment.

More than 90% of the units at Royal Court Apartments and Windsor Apartments had been upgraded through renovations including new kitchen and bathroom fixtures and appliances, refinished or replaced flooring, and the removal of interior non-bearing walls to create modern open floor plans while preserving the character of the pre-war buildings. Additional amenities at both properties include onsite laundry facilities, fully functioning elevators, updated landscaping, and landlord-paid heat and hot water.

The properties feature average in-place rents of approximately $1,425 to $1,450 per month, providing significant upside potential through future rent growth. The buildings also benefit from favorable 5% rent control regulations with vacancy decontrol provisions based on utility payment structure.

Conveniently located near Routes 4, 17, and 80, the properties are situated in established residential neighborhoods surrounded by parks, schools, local shopping, and access to NJ Transit and New York City transportation options.

Andrew Scheinerman joined Kislak in 2011 and specializes in the sale of multifamily and other investment properties throughout New Jersey. He received Kislak’s 2024 Sima Kislak Jelin Salesperson of the Year award and the firm’s 2011 Rookie of the Year award and was promoted to a vice president in 2017 and a senior vice president in 2022. Over the last two years, his multifamily sales total more than $300 million.

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 120th year, Kislak was among a select group of firms recognized as a 2025 Power Broker by CoStar Group, Inc. and this was the firm’s 20th consecutive recognition. For the fourth year, Kislak was named by NJBIZ as one of its Leaders in Real Estate, Construction and Design in New Jersey.