E.V.P. Joni Sweetwood Arranges Exclusive Sale of 35 Units
Woodbridge, N.J., January 5, 2024 – The Kislak Company, Inc. announced the recent sale of Sheridan Gardens, a 35-unit multifamily property at 533 East Second Avenue in Roselle, Union County, New Jersey, for $6,900,000.
Kislak marketed the property on an exclusive basis with executive vice president Joni Sweetwood handling the assignment on behalf of the seller, Sheridan Estate Urban Renewal LLC, which is an affiliate of a longtime client, and she also procured the purchaser, Harrison Grove Holdings LLC. Ms. Sweetwood also handled the prior sale of the property to the seller in 2018.
The offering included assumable financing and a long-term PILOT program.
Ms. Sweetwood commented, “The seller and buyer and their teams were pros and a pleasure to deal with, which made the transaction move as quickly as possible especially given the loan assumption and PILOT. The property condition also made the sale go quickly as it passed the city inspection the first time without any violations. “
Built in 1928, Sheridan Gardens is a four and a half story brick elevator apartment building with 35 units on 0.23 acre with on-site gated parking and many recent improvements including renovated apartments, new landscaping, a new entrance and bluestone walkway, and LED lighting. The roof and all electrical, mechanical and plumbing systems were replaced within the last 20 years.
The property is conveniently located in suburban Roselle between Westfield Avenue and Warinanco Park in central Union County approximately 10 miles from Newark and 18 miles from New York City.
Joni Sweetwood joined Kislak in 1996 and is one of the firm’s all-time leading salespeople consistently ranking as a top producer each year. She has won numerous sales awards, including the Sima Kislak Jelin Salesperson of the Year award, the company’s Producer of the Year award five times and the company’s Sales Transactions award for the most closed sales transactions in the last three years. Ms. Sweetwood 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 professionals provide comprehensive market coverage throughout New Jersey, New York, Pennsylvania, Delaware and Florida.
Now in its 118th 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.