E.V.P. Barry Waisbrod Arranges Exclusive Sale of 30 Units via Auction in Partnership with Ten-X
Woodbridge, N.J., December 4, 2023 – The Kislak Company, Inc. announced the recent sale of Riverbank Commons, a 30-unit multifamily property at 2030 Riverside Drive in Trenton, Mercer County, New Jersey, for $3,050,000.
Kislak marketed the property on an exclusive basis with executive vice president Barry Waisbrod handling the assignment on behalf of the seller, River Bank Rentals, LLC, a longtime client. Kislak partnered with Ten-X to facilitate an online managed bid auction with successful results. The winning bidder, NJ Mercer Investments Realty, LLC, purchased the property.
Kislak also handled the prior sales of Riverbank Commons in 1987, 1998 and 2003.
Mr. Waisbrod commented, “The seller is a longtime landlord with a large presence in Trenton and has been exchanging some of his smaller properties into larger suburban properties in southern New Jersey and eastern Pennsylvania. The purchaser invests in real estate throughout mercer County. This was an opportunity for him to acquire a clean property with upside in a nice section of Trenton not far from his other properties.”
Riverbank Commons is a three-story all brick apartment building situated on a quiet residential street along the Delaware River. The unit mix includes three efficiencies, 12 one-bedroom units and 15 two-bedroom units. The property includes two parking lots with four driveways and many recent capital improvements.
“This auction sale was our third in Trenton in partnership with Ten-X,” said Jason Pucci, CEO. “In each instance, Evan Koransky and his team at Ten-X did an excellent job from start to finish and all parties were pleased with the results.”
The prior sales included Tyler Apartments, a 26-unit multifamily property at 272 Tyler Street, that sold for $2,550,000 in July 2023 and a mixed-use property at 334 South Broad Street that sold for $575,000 in September 2022.
Trenton is the capital of New Jersey and the seat of Mercer County. It is located near the geographic center of the state approximately 66 miles southwest of New York City and 33 miles northeast of Philadelphia. As of the 2020 U.S. census, Trenton was the state’s 10th-most-populous municipality, with a population of 90,871
Barry Waisbrod joined Kislak in 2001 and is consistently among the firm’s leading salespeople. He specializes in the sale of multifamily and other investment properties throughout New Jersey and its neighboring states. Mr. Waisbrod received the firm’s Sima Kislak Jelin Salesperson of the Year award in 2019, 2015 and 2013.
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 professionals provide comprehensive market coverage throughout New Jersey, New York, Pennsylvania, Delaware and Florida.