Kislak Sells Irvington, NJ Seven-Property Multifamily Portfolio

The Kislak Company, Inc. has announced the sale of a seven-property multifamily portfolio in Irvington, New Jersey. The portfolio includes 184 residential units and six retail spaces. 

The properties are located at:

• 26-28 Chester Avenue (11 units and 3 retail spaces)

• 38-40 Chester Avenue (21 units)

• 979-983 Clinton Avenue (31 units)

• 51-57 Linden Avenue (29 units)

• 780-786 Lyons Avenue (22 units and 3 retail spaces)

• 494 Stuyvesant Avenue (37 units) 

• 2-10 Wagner Place (33 units)

The sale was handled by executive vice president Joni Sweetwood on behalf of the seller, a publicly traded Canadian company. 

The properties: The residential units include a mix of studios and one-, two-, three-, and four-bedroom units, many of which have been renovated. Other portfolio highlights include new boilers and hot water heaters, many replaced pipes and risers, and security cameras with a key fob entry system.

Location, location, location: Irvington is a township in Essex County, New Jersey. It is approximately 19 miles west of Manhattan. The portfolio is well-maintained and located in a strong rental market with easy access to New York City. The sale is a testament to the continued strength of the market for multifamily properties in northern New Jersey.