S.V.P. Don Baxter and V.P. Michael Salomon Arrange Exclusive Sale of 13 Units
Woodbridge, N.J., October 3, 2023 – The Kislak Company, Inc. announced the recent sale of a 13-unit multifamily building at 272 Hoboken Avenue in Jersey City, Hudson County, New Jersey, for $2,550,000.
Kislak marketed the property on an exclusive basis with senior vice president Don Baxter and vice president Michael Salomon representing the seller and they also procured the purchaser. The parties were not disclosed.
Highlighting the sale’s significance in the current market, Mr. Baxter commented, “Hudson County multifamily properties remain a safe and reliable investment. This sale shows the continued strength of the Jersey City apartment market even in a more challenging real estate market.”
Constructed in 1880, the five-story, brick, walk-up building is situated on a 5,663-square-foot lot and consists of 13 residential units with individual gas heating. Situated on a premium, elevated location with views overlooking the Holland Tunnel area with views of New York City, it is conveniently located near Journal Square, Hamilton Park, and the Village Historic Downtown district and very near to the intersection of Routes 78 and 139.
Mr. Salomon added, “The purchasers plan to undertake a full renovation of the building and capitalize on the building’s location. It has direct views of Manhattan and is located 30 seconds from the Holland Tunnel. Residents can enjoy a great scenic bike and walking path that begins at the building.”
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 $50 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 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 16th 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.