V.P. Julie Gralla & E.V.P. Joni Sweetwood Execute Exclusive Sale
Woodbridge, N.J., February 22, 2022 – The Kislak Company, Inc. announced the recent $2,600,000 sale of a mixed-use property with 17 residential units and 3 retail spaces at 359 North Maple Avenue in East Orange, Essex County, New Jersey.
Kislak marketed the property on an exclusive basis with vice president Julie Gralla handling the assignment. Executive vice president Joni Sweetwood procured the purchaser.
Ms. Gralla commented, “With an exclusive listing, I had the pleasure of representing the seller, a wonderful repeat client who is a true professional. Despite the retail component deterring some interested parties, with the help of Ms. Sweetwood, we were able to close at an aggressive price with the cap rate in the low 5% range.”
The three-story, brick building housing mostly one-bedroom apartments contains such features as security cameras, hardwood floors and high ceilings along with a garage containing four units. Recent renovations such as a new roof, new hot water heaters, new boiler, new windows throughout the building, a new front door and sidewalk along with additional outdoor lighting.
East Orange is a city of approximately 65,000 in eastern Essex County 13 miles from New York City. It has a strong rental population with 41% of households tenant-occupied.
Ms. Gralla joined Kislak in 2010 and specializes in the sale of investment properties throughout northern New Jersey. After her first year with Kislak, she received the company’s Rookie of the Year award. In 2020 and 2021, Ms. Gralla also received the company’s silver achievement award, previously earning the bronze achievement award in 2016 and 2017, for her transaction success. She was also recognized in the Mid Atlantic Real Estate Journal’s Executive Women in Business and 40 Under 40 spotlight issues.
Ms. Sweetwood joined Kislak in 1996 and is one of the firm’s all-time leading salespeople. She has won numerous awards, including the Sima Kislak Jelin Salesperson of the Year award in 2010; the company’s production award in 2010, 2011, 2012 2013, and 2018; its Sales Transactions award in 2021 for closing the most sales, and is consistently a top producer earning gold or platinum achievement annually. She 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.