Apartment portfolio in Kearny fetches nearly $11M

A five-building apartment portfolio in Kearny has sold for more than $10 million, according to real estate firm the Kislak Co. Inc.

The buildings include 65 units and a retail space, and were sold off-market for $10.915 million. They include:

  • 111 Belgrove Drive, 20 units;
  • 117 Belgrove Drive, 20 units;
  • 12 Grant Ave., 16 units;
  • 160 Stuyvesant Ave., five units and one retail space;
  • 9 Maple St., four units.

Scott Davidovic, senior vice president, and Michael Kossak, vice president, with Woodbridge-based Kislak, represented both parties in the transaction. Neither the buyer nor the seller was disclosed.

“This sale, handled completely off-market in competition with other brokers, shows the strength of our clients, who are consistently paying top dollar and are strong closers,” Davidovic said in a prepared statement. “The purchaser completed his due diligence precontract with minimal contingencies, which we encourage when appropriate, demonstrating professionalism not only to be awarded a deal, but to close as well.”