Gold Leaf Manor at 401 Roselle St. in Linden — Courtesy: The Kislak Co. Inc.
By Joshua Burd
The developer of a 48-unit apartment building in Linden has sold the property for more than $8 million, in a transaction brokered by The Kislak Co. Inc.
The brokerage firm said it represented both parties in the sale of Gold Leaf Manor at 401 Roselle St. The seller, the Gold Organization LLC, was the original developer of the three-story luxury building, which was constructed in 2006 and features units ranging from studios to two-bedrooms.
Kislak Senior Vice President Jeff Squires marketed Gold Leaf Manor on an exclusive basis, according to a news release. Sales Associate Andrew Scheinerman represented the buyer, a private regional investor listed as Linden Apartment LLC, in the $8.15 million deal.
“Golf Leaf Manor is one of the area’s premier steel and masonry apartment properties located just 20 miles from New York City,” Squires said. “There was tremendous interest from regional investors and the ultimate buyer closed in 60 days from signing on an all-cash basis.”
The complex includes high-end finishes, amenities and on-site parking, Kislak said in a news release. The property sits a half-mile from the Linden train station and is minutes from the New Jersey Turnpike, the Garden State Parkway and Route 1 & 9.
The deal was Kislak’s first with the buyer, Scheinerman said.
“He was especially attracted to the central location of the property and the upside potential in rents following further renovations,” he said. “Gold Leaf Manor is a unique asset in the area and the purchaser recognized and took advantage of the opportunity to acquire it.”
