Sweetwood of Kislak brokers 7-building portfolio in Irvington, NJ for $17.8 million
Irvington, NJ — The Kislak Company, Inc. announced the recent sale of a seven-building portfolio in Irvington with 184 residential units, six stores and one income-producing antenna for $17.8 million. The properties are located at 2-10 Wagner Pl.; 38-40 Chester Ave.; 979-983 Clinton Ave.; 494 Stuyvesant Ave.; 780-86 Lyons Ave.; 51 Linden Ave.; and 26-28 Chester Ave. Senior vice president Joni Sweetwood represented the seller and procured the purchaser. The sale marked both parties’ initial transaction with Kislak. Sweetwood noted the sale was reflective of the current market trend in which “owners are improving urban properties to a level that surpasses even properties in ‘high-end’ towns.” She added, “The sale moved swiftly to closing without any problems.” Uniquely, the buildings at 780-86 Lyons Ave,(aka 106 Lincoln Pl,) and 26-28 Chester Ave, (aka 80 Welland Ave,) house 22 and 11 residential units, respectively, and each have three stores at street level. The property at 979 Clinton Ave, has 31 residential units and an income-bearing antenna on its rooftop. It is located in the heart of Irvington in one of its highest appreciating neighborhoods since 2000.