Peachtree Apartments at 1101 Jubilee Court (left) and 25 West Northfield Ave., both in Livingston — Courtesy: The Kislak Co. Inc.
By Joshua Burd
A private investor has purchased a 51-unit affordable housing complex in Livingston for $4.5 million, in one of two newly announced deals by The Kislak Co. Inc.
The brokerage firm’s Matt Weilheimer and Tom Scatuorchio represented the seller, the Joseph Kushner Hebrew Academy, and procured the buyer in the transaction at 1101 Jubilee Court. They noted that the property, Peachtree Apartments, is a three-building asset with a mix of one-, two- and three-bedroom apartments that are leased to income-qualified applicants, benefiting from on-site amenities and a location just off South Orange Avenue.
The complex opened in 2022, the team said. And it’s the second affordable housing property in Livingston that Weilheimer has sold, following the $1.3 million trade of a 12 units at 660 South Orange Ave., and one of seven assets that he has sold in New Jersey since 2021.
“We are excited to announce the sale of Peachtree Apartments, a meticulously built project in a tier one municipality where the future is bright for new ownership,” said Weilheimer, a managing director with Woodbridge-based Kislak.
He and Senior Vice President Scott Davidovic also represented the buyer in the trade of an 8,100-square-foot strip mall at 25 West Northfield Ave., also in Livingston. They noted that the 71-year-old property, which has long-term tenants and on-site parking, changed hands for $2.065 million.
