E.V.P. Matt Weilheimer Handles Exclusive Sale of 140 Units in Orange County
Woodbridge, N.J., May 17, 2022 – The Kislak Company, Inc. announced the recent sale of Tudor Gardens Apartments, a 140-unit apartment complex at 29 Culvert Street and 103 Ryan Street in Port Jervis, Orange County, New York, for $14,250,000.
Kislak marketed the properties on an exclusive basis with executive vice president Matt Weilheimer managing the assignment, and he also procured the purchaser. The parties were not disclosed.
Completed in 1972, the property includes 140 spacious one- and two-bedroom units in 15 buildings on two parcels totaling 7.2 acres in a residential neighborhood in Port Jervis.
Mr. Weilheimer commented, “As a result of our marketing efforts, we received multiple offers for the property and the purchaser provided the seller with the opportunity to identify a replacement property as part of 1031 exchange.”
At the time of closing, the property was fully occupied.
Apartment features at Tudor Gardens include patios or balconies in select units, upgraded flooring and many other recent upgrades. Community amenities include on-site laundry and maintenance, abundant parking for residents and guests and convenient access to mass transit and local highways.
Port Jervis, which is also known as the River City and the Gateway to the Upper Delaware River, is a small historic city located at the junction of New York, New Jersey, and Pennsylvania and the confluence of the Neversink and Delaware rivers in western Orange County, New York, approximately 90 miles northwest of New York City.
Matt Weilheimer joined Kislak in 1996 and is consistently among the firm’s leading salespeople. He specializes in the sale of apartment buildings, REO assets and other investment properties in New Jersey and its surrounding states. Mr. Weilheimer has won numerous sales awards at Kislak including the firm’s 2010 and 2015 Producer of the Year awards. His recent transactions included more than a dozen multifamily and other investment sales in New Jersey, New York, and Pennsylvania for more than $50 million, and he is a licensed real estate salesperson in those three states.
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.