Shelly Holders LLC Acquires Property In East Orange For $8 Million With Joni Sweetwood As Representative

A two-property, 68-unit portfolio located at 57-61A East Park St, East Orange, NJ, and 463-475 Park Ave, Orange, NJ, has been sold for $8 million. The East Orange property features studio, one-bedroom, and two-bedroom units within a two-story, garden-style brick apartment building, complete with on-site parking and professional landscaping. The Orange property consists of a three-story garden apartment complex with 46 one-bedroom units, some including balconies, and also offers on-site parking. Both properties are situated in suburban locales within proximity to schools, restaurants, multiple NJ Transit stops, and nature preserves.

Summary of transaction details:

• Property Type: Residential Portfolio
• Transaction Amount: $8,000,000.00
• Address: 57 E Park St, East Orange, NJ, 07017
• Market: East Orange
• Buyer's Name: Shelly Holders LLC
• Seller's Representative: Joni Sweetwood
• Brokerage Firm: Kislak
• Seller: Al-Kel Realty LLC

The deal was facilitated by Joni Sweetwood of Kislak, who represented Al-Kel Realty LLC, and successfully procured Shelly Holders LLC as the buyer. Both parties are noted as repeat clients within the brokerage's portfolio. Post-purchase, the buyer intends to upgrade all apartments upon turnover, while also enhancing exterior and common areas of the properties.