Former creamery in Sussex, now apartments and stores, is sold for $2.25M

By Eric Strauss
Sep 25, 2018 at 12:44 pm

The Creamery, a mixed-use residential and commercial property in Sussex, has sold for $2.25 million, according to the Kislak Co. Inc.

The former creamery property, at 16 Walling Ave., includes 20 residential units and five commercial spaces. It was sold by Creamery Apartments LLC to F.M.F. Investments LLC, Kislak said.

Kislak was the exclusive marketing agent on the property, and Joseph Keenan, vice president, represented both the buyer and seller — longtime Kislak clients — on the deal.

The former creamery was converted to mixed use in the 1970s, and renovated from a distressed state three years ago, when Creamery Apartments bought it.

“The seller purchased the property in order to renovate and sell it,” Keenan said in a prepared statement. “I am very pleased we were able to help him execute his plan. The property was beautifully renovated and will make a fine addition to the buyer’s growing portfolio in Sussex County.”

The three-story building has seven studios, 12 one-bedroom units and a single two-bedroom unit, as well as the commercial units. It was fully occupied at the time of the sale.

Regal Bank provided financing for the sale.

Eric Strauss | estrauss@roi-nj.com | acerimrat