The Kislak Co. Inc. on Wednesday said it helped facilitate the sale of a mixed-use multifamily and retail property located at 25-27 Watsessing Avenue in Bloomfield, Essex County, for $2.35 million.
The transaction was managed on an exclusive basis by Kislak, with Managing Director Jeff Squires representing the seller, Watsessing Property Mgmt, LLC. Senior Vice President Tom Scatuorchio procured the purchaser, 25 Watsessing Realty LLC.
The four-story building features 14 residential units—each a one-bedroom, one-bathroom layout—alongside two ground-floor retail spaces. At the time of the sale, the property was fully occupied, benefiting from recent renovations to the building’s common areas and 10 of the apartments.
“This transaction exemplifies the continued strength of transit-oriented multifamily investment in northern New Jersey,” Squires said. “25-27 Watsessing Avenue offered a well-positioned, income-producing opportunity with significant upside potential and a prime location, steps from the NJ Transit Watsessing Train Station.”
The property’s strategic location immediately adjacent to the Watsessing Avenue Station provides residents with direct rail access to Newark and New York City. The surrounding Bloomfield area continues to see robust investor demand, fueled by its dense population and proximity to major northern New Jersey employment hubs.
“The acquisition was completed by an established local investor who transacted on competitive terms, including an accelerated and smooth due diligence process,” Scatuorchio added.
This sale underscores the ongoing demand for mixed-use assets across Essex County, particularly those that offer stable occupancy and ease of access to public transportation. Kislak’s success in this transaction reflects a broader trend of investors prioritizing “turn-key” properties that combine renovated interiors with transit-centric locations.
