Kislak sells two multifamily sites in Newark for $2.5M

Woodbridge-based The Kislak Company Inc. announced recently the sale of two multifamily properties in Newark for approximately $2.5 million.

The $2.46 million sale included a 21-unit property at 32 Dayton St. and a 16-unit property at 377 Clinton Place.

Kislak’s Michael Salomon, sales associate, marketed the properties exclusively. Salomon also procured the buyer.

“This sale exemplifies the continued strength of the Newark multifamily market,” Salomon said. “The city’s renaissance continues and, as a result, multifamily investments remain strong.”

The Dayton Street property is a four-story brick apartment building. It has 19 one-bedroom and two two-bedroom apartments with onsite laundry.

The Clinton Place property is a two-story brick apartment building. It has 12 one-bedroom, three two-bedroom and one three-bedroom units.

Both properties are located in the Dayton neighborhood of the South Ward section of Newark.