Sales Associate Gregory Koenig Arranges Off-Market Sale of 29 Units in Rockland County
Woodbridge, N.J., November 7, 2023 – The Kislak Company, Inc. announced the recent off-market sale of a 29-unit multifamily property at 15 West Funston Avenue in Spring Valley, Rockland County, New York, for $3,400,000.
Kislak arranged the sale with sales associate Gregory Koenig handling the assignment on behalf of the seller, and he also procured the purchaser. The parties were not disclosed.
Built in 1962, the property is a three-story brick garden apartment building situated on three quarters of an acre. It includes 29 units, eight garages and on-site parking. The units mix includes 19 one-bedroom apartments and 10 two-bedroom apartments.
Mr. Koenig commented, “The purchaser owns nearby and was eager to add this property to his portfolio. The sale represents an exceptional performance by him in an especially challenging market.”
The property is located in a quiet residential neighborhood in the heart of Spring Valley, a quaint mid-sized village located five miles north of the New Jersey border and 22 miles north of Manhattan. Rockland County is a strong rental market with a limited number of multifamily property options despite an increasing population. As of the 2020 U.S. census, the county’s population was 338,329, making it the state’s third-most densely populated county outside New York City after Nassau and neighboring Westchester Counties.
Financing was provided by TD Bank.
Gregory Koenig joined Kislak in 2020 and specializes in the sale of multifamily and other investment properties in the lower Hudson Valley and was awarded the company’s Rising Star Award in 2021. His recent investment sales total more than $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 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.