Magnolia Lane Luxury Apartments at 60 Passaic Ave — Courtesy: The Kislak Co. Inc.
By Joshua Burd
The owner of a newly completed, 34-unit luxury apartment complex in Fairfield is seeking a buyer for the property, The Kislak Co. Inc. announced Monday.
The brokerage firm, the property’s sales agent, is marketing the community known as Magnolia Lane Luxury Apartments at 60 Passaic Ave. Built last year, the site includes four buildings with brick- and clapboard-style architecture on 2.66 acres in a private cul-de-sac.
Kislak Executive Vice President Joni Sweetwood is handling the assignment, touting its high-end finishes and appliances, along with private entrances and garages, patios or balconies and other features. The Woodbridge-based firm has listed the property for $14.9 million.
“Essex County is among the strongest rental markets in New Jersey,” Sweetwood said. “Given the area’s growing rental population and increasing demand for luxury housing, Magnolia Lane presents an extraordinary opportunity for an investor to own one of the premier luxury rental properties in suburban Essex County near two train stations, with easy access to Routes 80, 46 and 280 and only 20 miles from Midtown Manhattan.”
