Senior Vice President Andrew Scheinerman Arranges Exclusive Sale of 33 Units

Woodbridge, N.J., July 23, 2026 – The Kislak Company, Inc. announced the recent sale of a 14-unit multifamily property at 110-112 West Central Boulevard and a 19-unit multifamily property  at 71 East Palisade Boulevard, both in Palisades Park, Bergen County, New Jersey, for $4,700,000.

Kislak marketed the portfolio on an exclusive basis with senior vice president Andrew Scheinerman handling the assignment, and he also procured the purchaser. The parties were not disclosed.

Mr. Scheinerman commented, “This was a particularly meaningful transaction since Kislak sold these properties to the seller more than 40 years ago, and we were honored to represent them again. Assets of this caliber and condition rarely become available in the Palisades Park market. We procured a qualified buyer in less than two weeks, a longtime client with whom I have completed more than 30 transactions. The sale price was at an aggressive sub-3% cap rate given the property’s tremendous upside potential.”

Offered for sale for the first time in more than 40 years, the portfolio presented a rare investment opportunity. Remarkably, the transaction represents only the second sale of the properties in approximately 80 years, with Kislak having brokered both sales. The portfolio features significantly below-market rents, strong in-place cash flow, annual 4% rent increases, and meaningful upside through vacancy decontrol.

The 14-unit property at 110-112 West Central Boulevard features on-site laundry facilities, on-site parking, and garages, with separately metered utilities with tenants responsible for their own gas heat. The 19-unit property at 71 East Palisade Boulevard also offers on-site laundry and features a predominant one-bedroom unit mix. Together, the properties comprise an attractive 33-unit portfolio consisting of three studio apartments, twenty-eight one-bedroom apartments, one two-bedroom apartment, and one three-bedroom apartment.

Situated in one of Bergen County’s most desirable multifamily investment markets, the portfolio benefits from strong rental demand, a high-income demographic profile, and exceptional proximity to New York City. Convenient access to the George Washington Bridge, Interstate 95, U.S. Route 46, and extensive public transportation, combined with limited new multifamily development, continue to support strong investor demand and long-term appreciation in Palisades Park.

Andrew Scheinerman joined Kislak in 2011 and specializes in the sale of multifamily and other investment properties throughout New Jersey. He received Kislak’s 2024 Sima Kislak Jelin Salesperson of the Year award and the firm’s 2011 Rookie of the Year award and was promoted to a vice president in 2017 and a senior vice president in 2022. Over the last two years, his multifamily sales total more than $300 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 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 20th consecutive recognition. For the fourth year, Kislak was named by NJBIZ as one of its Leaders in Real Estate, Construction and Design in New Jersey.