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Squires and Waisbrod of Kislak complete sale of 160 Condos In Rahway, NJ for $26.5M

Writer's picture: MAREJMAREJ

Rahway, NJ — The Kislak Company, Inc. announced the recent $26.5 million sale of 160 condominium units at Skyview Rahway located at 80 East Milton Ave. in Rahway, Union County. Kislak marketed the condominiums on an exclusive basis with senior vice president Jeff Squires handling the assignment. Senior vice president Barry Waisbrod procured the purchaser. “There was fierce demand from our clients who were looking to acquire a sizable rental property in the heart of Rahway,” said Squires. “With a bustling downtown, arts district, and increasingly strong rental market, Rahway has become one of the most sought-after cities in the state among investors.” “The purchaser who is based in New York believes strongly in the central and northern New Jersey condo markets,” said Barry Waisbrod, senior vice president. “Skyview was particularly attractive to them given the property’s location, proximity to the train, design and excellent condition.” Constructed in 2005 as a best-in-class luxury full-amenity building, the property was originally known as Skyview at Carriage City Plaza and also includes 20,000 square feet of commercial space and a hotel, which were not a part of the sale. Leading up to the Great Recession, some of the condominiums were sold individually but given the changing market conditions in the late 2000’s, the property went into foreclosure and the original developer lost the property to the lender who had been managing it since then.


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