Team of Baxter, Salomon and Sweetwood Arrange Exclusive Sale of 20 Units
Woodbridge, N.J., August 25, 2023 – The Kislak Company, Inc. announced the recent sale of two multifamily properties with a total of 20 units in Elizabeth, Union County, New Jersey, for $4,120,000. The properties are located at 126 First Street and 70-72 Livingston Street.
Kislak marketed the properties on an exclusive basis with senior vice president Don Baxter and vice president Michael Salomon handling the assignment on behalf of the seller. Executive vice president Joni Sweetwood procured the purchaser. The parties were not disclosed.
Mr. Baxter commented on the sale: “These two properties are located within a block from each other and are in very close proximity to Elizabeth’s scenic port/waterway. As with many recent sales, sellers are becoming accustomed to the pace of a changing lending environment. We appreciate the patience and involvement of our clients to get today’s deals done.”
Highlighting current market conditions, Mr. Salomon remarked: “As the market shifts, we are still seeing many active and eager buyers emerging. This sale illustrates the resilience of the multifamily sector even in a more challenging market.”
The property at 126 First Street is a three-story, brick building consisting of six residential units. The property at 70-72 Livingston Street is a newly constructed, three-story building with two stores at street level and 12 residential units. Both buildings are well-maintained in upcoming areas of Elizabeth, close to commuter transportation, and offering strong upside potential.
Don Baxter joined Kislak in 2006 and specializes in the sale of multifamily and other investment properties throughout New Jersey with emphasis on Hudson County where he is among the area’s top producers. In 2007, he received Kislak’s Rookie of the Year Award, and in 2008 and 2009, he received the company’s Sima Kislak Jelin Salesperson of the Year Award.
Michael Salomon joined The Kislak Company, Inc. in 2013 and specializes in the sale of multifamily and other investment properties in northern New Jersey. He holds a Bachelor of Science in Business Administration from the University of Hartford. A member of the New Jersey Apartment Association and the Property Owners Association of New Jersey, he has completed transactions valued at over $100 million.
Joni 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 and the company’s production award in 2010, 2011, 2012 2013, and 2018. 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. 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 thirty-five professionals provide comprehensive market coverage throughout New Jersey, New York, Pennsylvania, Delaware and Florida.
Now in its 117th year, Kislak was among a select group of firms recognized as a 2022 Power Broker by CoStar Group, Inc. and this was the firm’s 17th 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.