V.P Julie Gralla & E.V.P. Joni Sweetwood Partner in Exclusive Sale of 20 Units
Woodbridge, N.J., September 8, 2022 – The Kislak Company, Inc. announced the recent sale of a 20-unit multifamily property at 1251 Milton Place in Plainfield, Union County, New Jersey for an undisclosed price.
Kislak marketed the property on an exclusive basis with vice president Julie Gralla handling the assignment on behalf of the seller, Milton Terrace Holdings to whom she previously sold the property. Executive vice president Joni Sweetwood procured the purchaser, which was not disclosed.
“It was a pleasure to work with the seller whom I had previously represented as a buyer for this property,” said Ms. Gralla. “Given my long and memorable history with the property, it was important that I arranged its sale. The seller engaged us on an exclusive basis, which enabled us to achieve a high per unit price.”
Milton Terrace Apartments is a two-story garden apartment complex built in 1970. It consists of two buildings totaling 16,825 square feet with 20 two-bedroom units with separate utilities. The complex offers on-site parking in a quiet, secluded neighborhood.
Within the last eight years, the seller made significant updates to the property: new roofing and siding; new windows and HVAC units in a majority of the units; a new drainage system; and renovation of half of the units. The property offers great upside given the potential in rents.
Located within three miles of banks, restaurants, big box retail stores, supermarkets, and schools, the complex is near parks, recreational facilities and hospitals. Routes 22 and 78 are also easily accessed within minutes from the property.
Julie 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 firm’s Rookie of the Year award. In 2020 and 2021, Ms. Gralla also received the firm’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.
Joni Sweetwood joined Kislak in 1996 and is also 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, and Delaware.
Now in its 116th year, Kislak was among a select group of firms recognized as a 2021 Power Broker by CoStar Group, Inc. and this was the firm’s 16th consecutive recognition.