A portfolio featuring several Union County multifamily properties recently sold for $90 million in an off-market deal arranged by The Kislak Co. Inc.
According to a Jan. 2 announcement from the Woodbridge-based commercial real estate brokerage the package of 10 properties features 540 units. Kislak said data from CoStar qualifies the transaction as one of the largest multifamily sales in 2025.
Managing Director Jeff Squires arranged the deal on behalf of the seller, Landmark Cos. of Keasbey, and its principals. Kislak described the firm as a longtime client. Squires also secured the unnamed buyer.
The portfolio includes:
- Sunrise Village Apartments, 145 Jerome St., Roselle Park – 275 units
- 127-135 E. Fifth Ave., Roselle – 48 units
- Chilton Manor, 212 Westfield Ave., Elizabeth – 39 units
- Cheryl Gardens, 408 Chestnut St., Roselle – 32 units
- Riverside Apartments, 145 Dock St., Rahway – 30 units and 1 commercial space
- 123 W. First Ave., Roselle – 30 units
- Astoria Manor, 854 W. Grand St., Elizabeth – 24 units
- Michael’s Manor, 143-147 E. Fifth Ave., Roselle – 24 units
- Briar Lane Apartments, 222 E. Westfield Ave., Roselle Park – 23 units
- White Rose Apartments, 214-216 E. First Ave., Roselle – 14 units
‘Extraordinary value-add opportunity’
“The sale of the portfolio represents an extraordinary value-add opportunity for the purchaser to acquire over 500 well-maintained units in some of the strongest rental markets throughout northern New Jersey,” Squires said. “Most of the properties had been owned and managed by the original developer’s family across three generations.”
The portfolio offers a mix of studio, one- and two-bedroom layouts across several suburban garden-style apartment complexes. Kislak also noted each offers a location near commercial outlets and mass transit options.
Landmark Principals Michael Gottlieb and Eric Harvitt completed the deal as part of an effort to reposition that firm. Kislak said the sale came as part of an exchange of some noncore legacy properties into a more recently developed residential community in Raleigh, N.C.
Other local residential properties in the firm’s portfolio include Station Square at Fanwood, Hackettstown Crossings and Sun Valley at Florham Park.
“We are making an effort to position our company for future success by diversifying geographically and improving the product type we own and manage,” Gottlieb and Harvitt said. “New Jersey will always be the center of our universe and we are excited about future development and acquisitions here, but we also feel it is healthy to have a presence in other markets as well.”
