Multifamily property in Middlesex County sells for $8.5M

The Kislak Company Inc. announced Wednesday the $8.5 million sale of a multifamily apartment property in Middlesex County.

The Tall Tree Apartments is comprised of 68 units and is located at 175 Buckelew Ave. in Jamesburg. Daniel Lanni, vice president at Kislak, represented the buyer and seller in the deal.

“We previously sold more than 200 units for the seller and this was the last multifamily property in their portfolio. The experienced purchaser moved quickly and performed well to ensure a successful closing. The demand for multifamily properties in central New Jersey remains at an all-time high,” Lanni said.

“Dan did an excellent job orchestrating this off-market sale,” said Robert Holland, president.

The four-building apartment complex is currently fully occupied with on-site parking and consists of 10 studios, 38 one-bedroom units and 20 two-bedroom units.

Schwartz Burton LLP represented the buyer and Giordano, Halleran & Ciesla represented the seller. Meridian Capital Group arranged financing for the transaction.