S.V.P. Robert Squires Arranges Exclusive Sale of 22 Units in Passaic County

Woodbridge, N.J., August 12, 2026 — The Kislak Company, Inc. announced the recent sale of Burgh Apartments, a 22-unit multifamily property located at 46 Burgh Avenue in Clifton, Passaic County, New Jersey, for $3,750,000.

Kislak marketed the property on an exclusive basis with senior vice president Robert Squires handling the assignment on behalf of the longtime owner and seller, Burgh Associates, LLC. He also procured the purchaser, Luka 46, LLC.

Mr. Squires commented, “We received nine qualified offers within a two-week marketing period. Strong investor demand and the property’s significant value-add potential resulted in a sale at approximately a 5% cap rate and a price exceeding $170,000 per unit.”

Constructed in 1928, Burgh Apartments is a professionally maintained 22-unit apartment building that had remained under the same ownership for more than 45 years. The property features hardwood floors, on-site laundry facilities, and a newer hot water tank installed in 2022. Heat and hot water are landlord-paid, and the property offers substantial upside due to below-market rents which can be obtained through tighter management, and future unit renovations.

Located in Clifton, one of northern New Jersey’s most established multifamily markets, the property offers excellent regional accessibility via Routes 80, 46, 21, and 17, as well as the Garden State Parkway. It is approximately 14 miles from New York City and less than 1.5 miles from the Clifton NJ Transit station, providing convenient commuter rail service to Manhattan. The combination of its desirable location, strong transportation access, and continued demand for well-located value-add apartment properties continues to attract significant investor interest.

Mr. Squires added, “This transaction reflects the continued strength of the northern New Jersey multifamily market. Well-maintained pre-war apartment buildings with long-term ownership, proven operating history, and meaningful rental upside remain among the most sought-after investment opportunities in today’s market.”

Robert Squires joined Kislak in 2003 and specializes in the sale of multifamily and other investment properties throughout New Jersey. Consistently among the firm’s leading producers, he received Kislak’s 2017 and 2016 Sima Kislak Jelin Salesperson of the Year award and its 2017 Producer 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 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 18th 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.