60 Dayton Ave. in Passaic — Courtesy: The Kislak Co. Inc.
By Joshua Burd
A building with 23 apartments and a restaurant space in Passaic has traded for $2.5 million, in one of two newly announced deals by The Kislak Co. Inc.
Julie Gralla, a senior vice president with the firm, represented repeat client Hobart Dayton Proud Passaic LLC in the transaction at 60 Dayton Ave. and 15 Hobart St. She also procured the buyer, Bonim Realty LLC, citing the property’s highway and mass transit access and noting that the street-level retail space has a long-term tenant in place.
“It was a pleasure working with both parties,” Gralla said. “The seller was a repeat client and the purchaser was a goal-driven team player. In an increasingly difficult selling environment, this sale exhibited the importance of teamwork and professionalism. Together, we responded swiftly to any obstacles that arose. While there will be work involved, the property offers a great deal of upside potential.”
In Orange, the veteran broker represented Hickory Corner LLC in the $1.42 million sale of a three-story, 12-unit apartment building at 153 Pierson St. She also procured the buyer, 153 Pierson St. LLC, adding that the property has new windows and water heaters, renovated exterior lighting with added security cameras and a remote-controlled security gate for its parking lot.
Additionally, the site is within walking distance of two NJ Transit Midtown Direct train stations and close to Interstate 280 and the Garden State Parkway.
“This was a relatively smooth transaction and it was also a pleasure to work with both parties,” Gralla said. “The seller was a repeat client and the buyer was a seasoned investor.”