Kislak sells 7-building portfolio in Irvington for $17.8M

The Kislak Company Inc. announced recently the sale of a seven-building portfolio in Irvington for $17.8 million.

The portfolio consists of 184 residential units, six stores and one antenna.

The properties are located at 2-10 Wagner Place; 38-40 Chester Ave.; 979-983 Clinton Ave.; 494 Stuyvesant Ave.; 780-86 Lyons Ave.; 51 Linden Ave.; and 26-28 Chester Ave.

Joni Sweetwood, senior vice president at Kislak, represented the seller and buyer in the deal.

Sweetwood said the sale was reflective of the current market trend in which “owners are improving urban properties to a level that surpasses even properties in ‘high-end’ towns.

“The sale moved swiftly to closing without any problems.”

Sweetwood said the properties were all renovated and include luxury units.

“The purchaser plans to maintain their luxury status and increase rents as there is a strong demand for quality housing in urban areas. The result is fully-occupied properties with increasing rents,” she said.