S.V.P. Scott Davidovic Leads Assignment to Sell 22 Buildings in Essex County
Woodbridge, N.J., March 29, 2024 – The Kislak Company, Inc. was recently named the exclusive sales agent for a 22-building multifamily portfolio in East Orange and Irvington, Essex County, New Jersey. The portfolio includes 645 residential units and two offices.
Senior vice president Scott Davidovic is leading the assignment on behalf of the sellers and he commented on the offering, “This is an extraordinary opportunity for a purchaser to acquire hundreds of units and a sizeable portion of the market in an extremely fast-growing area, which is among the strongest rental markets in northern New Jersey. The properties are in close proximity to multiple train stations and the new Crossings at Brick Church Station development that includes Goldman Sachs as an investment partner.”
“The properties may be purchased separately or together and include attractive assumable financing,” added Mr. Davidovic.
The portfolio includes 15 buildings in East Orange with 472 units and seven buildings in Irvington with 175 units. The buildings are professionally managed and have been upgraded over the past 25 years with many of the units recently renovated. Tenants pay for their own heat, hot water and electric usage in 11 of the buildings. There are 14 buildings with on-site parking for 382 vehicles. Three cell phone towers are also included in offering.
The prime locations provide tenants with easy access to major highways including the Garden State Parkway, I-280, and I-78. The properties are all centrally located near bus stops and the East Orange properties are all located near the Brick Church or East Orange train stations with service to Newark Penn Station and New York City.
For more information about the portfolio, please contact Scott Davidovic at (732) 750-3000 ext. 290 or sdavidovic@kislakrealty.com.
Scott Davidovic joined Kislak in 2006 and specializes in the sale of multifamily properties with a focus on land and development throughout northern New Jersey. He received Kislak’s 2007 Rookie of the Year award and 2014 Sima Kislak Jelin Salesperson of the Year award.
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.
