126 First St. and 70-72 Livingston St. in Elizabeth — Courtesy: The Kislak Co. Inc.
By Joshua Burd
A private investor has purchased a combined 18 apartments and two retail spaces in Elizabeth for more than $4 million, in a newly announced deal by The Kislak Co. Inc.
According to the brokerage team, the properties include a three-story, six-unit brick building at 126 First St. The second building, which is newly constructed, is home to 12 apartments and two street-level stores at 70-72 Livingston St.
Kislak Senior Vice President Don Baxter and Vice President Michael Salomon represented the seller in the $4.12 million deal, while Executive Vice President Joni Sweetwood procured the purchaser. The brokers did not disclose the name of either party.
“These two properties are located within a block from each other and are in very close proximity to Elizabeth’s scenic port/waterway,” Baxter said. “As with many recent sales, sellers are becoming accustomed to the pace of a changing lending environment. We appreciate the patience and involvement of our clients to get today’s deals done.”
Kislak added that both buildings are well-maintained and in up-and-coming areas of Elizabeth, close to commuter transportation and offering strong upside potential.
“As the market shifts, we are still seeing many active and eager buyers emerging,” Salomon said. “This sale illustrates the resilience of the multifamily sector even in a more challenging market.”
