The Kislak Co. sells Gold Leaf Manor in Linden, NJ for $8.15 million
Linden, NJ — The Kislak Company, Inc. announced the recent $8.15 million sale of Gold Leaf Manor, a 48-unit luxury multifamily property located at 401 Roselle St., Linden. Senior vice president Jeff Squires marketed Gold Leaf Manor on an exclusive basis and sales associate Andrew Scheinerman represented the purchaser. The seller was the Gold Organization, LLC, the original developer of the property and the purchaser was Linden Apartment, LLC, a private regional investor. Constructed in 2006, Gold Leaf Manor is a three-story modern luxury elevator apartment building located in the heart of Linden in Union County, New Jersey on nearly one acre. The property includes studios and one- and two-bedroom units all with abundant luxury amenities and on-site parking. The one- and two-bedroom units include balconies. “Golf Leaf Manor is one of the area’s premier steel and masonry apartment properties located just 20 miles from New York City,” said Squires. “There was tremendous interest from regional investors and the ultimate buyer closed in 60 days from signing on an all-cash basis.” “This was our first transaction with the purchaser and it was a pleasure working with him,” said Scheinerman. “He was especially attracted to the central location of the property and the upside potential in rents following further renovations. Gold Leaf Manor is a unique asset in the area and the purchaser recognized and took advantage of the opportunity to acquire it.” The property is conveniently located one-half mile from the Linden Train Station among ample commercial offerings only minutes from the New Jersey Turnpike, Garden State Parkway and U.S. Highway 1 and 9. Linden is a very strong rental market. It is part of the New York Metropolitan Area, located approximately 13 miles southwest of Manhattan and bordering Staten Island across the Staten Island Sound. Squires joined Kislak in 2007 and specializes in the sale of multifamily and other investment properties throughout northern New Jersey. He received Kislak’s 2008 Rookie of the Year award, 2012 Sima Kislak Jelin Salesperson of the Year award and the 2014 and 2016 Producer of the Year award. Scheinerman joined Kislak in 2011 and also specializes in the sale of multifamily and other investment properties throughout northern New Jersey. Scheinerman received Kislak’s 2011 Rookie of the Year award. The Kislak Company, Inc. is a leading commercial real estate brokerage consistently recognized for its investment sales success. Established in 1906, Kislak’s market leadership position and longevity are due to its ability to offer clients a personalized, hands-on approach, coupled with the unrivaled expertise of its long-tenured team of professionals.