The Kislak Company, Inc., based out of Woodbridge, announced Jan. 2 the sale of a 10-property multifamily portfolio in Union County for $90 million.
The portfolio includes:
- Sunrise Village Apartments, 145 Jerome Street, Roselle Park – 275 units
- 127-135 East Fifth Avenue, Roselle – 48 units
- Chilton Manor, 212 Westfield Avenue, Elizabeth – 39 units
- Cheryl Gardens, 408 Chestnut Street, Roselle – 32 units
- Riverside Apartments, 145 Dock Street, Rahway – 30 units and 1 commercial space
- 123 West First Avenue, Roselle – 30 units
- Astoria Manor, 854 West Grand Street, Elizabeth – 24 units
- Michael’s Manor, 143-147 East Fifth Avenue, Roselle – 24 units
- Briar Lane Apartments, 222 East Westfield Avenue, Roselle Park – 23 units
- White Rose Apartments, 214-216 East First Avenue, Roselle – 14 units
Kislak’s managing director Jeff Squires arranged the off-market transaction on behalf of the seller, Landmark Companies of Keasbey, and its principals. Squires also procured the undisclosed buyer.
Landmark’s principals, Michael Gottlieb and Eric Harvitt, said the sale is part of their strategy to reposition the company. The properties were exchanged for a more recently developed residential community in Raleigh, North Carolina.
“We’re positioning our company for future success by diversifying geographically and improving the product types we own and manage,” Gottlieb and Harvitt said in a joint statement. “New Jersey will always be the center of our universe, and we’re excited about future development and acquisitions here. But we also see value in establishing a presence in other markets.”
Squires said, “The sale of the portfolio represents an extraordinary value-add opportunity for the purchaser to acquire over 500 well-maintained units in some of the strongest rental markets throughout northern New Jersey. Most of the properties had been owned and managed by the original developer’s family across three generations.”
The portfolio consists of a mix of studio, one-bedroom, and two-bedroom units in suburban garden apartment complexes, all featuring on-site parking and a range of amenities.
Squires, who joined Kislak in 2007, specializes in the sale of multifamily and retail investment properties throughout the region. He was named Kislak’s Rookie of the Year in 2008, promoted to vice president in 2009, senior vice president in 2017, and managing director in 2024.
