21-23 Leigh St. in Clinton — Courtesy: The Kislak Co. Inc.
By Joshua Burd
A private investor has acquired a nearly 5,200-square-foot apartment and retail property in Hunterdon County for $1.05 million, in a deal arranged by The Kislak Co. Inc.
In a news release, the brokerage team said it represented Clinton Properties LLC in the transaction at 21-23 Leigh St. in Clinton. The firm noted that the 5,175-square-foot building has four residential units and two retail spaces, adding that the undisclosed buyer completed the deal as part of a Section 1031 exchange.
“This was the fastest transaction in which I have been involved,” Kislak’s Daniel Lanni said. “The offer was accepted immediately, the contract was drafted the following day and signed without any due diligence and the closing occurred one week later on an all-cash basis.”
Lanni marketed the property on the seller’s behalf and procured the buyer. He said the building, which is within walking distance of the downtown area, has fully renovated apartments and was fully occupied at the time of the sale.
The news release also noted that Clinton is vibrant with events, resources and services for businesses and residents, offering walking trails, parks, museums, restaurants, a main street, tree-lined streets and a waterfront along the Raritan River, which is host to two grist mills and a historic iron bridge. Commuters have access to service on Transbridge Bus Lines, while the town is about five minutes by car from NJ Transit’s Annandale station.
