The Kislak Co. successfully traded two investment properties in Livingston for a combined $6.5 million. The transactions, spearheaded by Kislak’s Managing Director Matt Weilheimer, included the sale of a 51-unit affordable housing complex and a separate retail property.
The two sales comprised the Peachtree Apartments at 1101 Jubilee Court, which sold for $4.5 million, and a retail center located at 25 West Northfield Avenue, which sold for $2,065,000.
Kislak marketed the Peachtree Apartments exclusively on behalf of the Joseph Kushner Hebrew Academy. The deal was managed by Weilheimer and Senior Vice President Tom Scatuorchio, who also successfully procured the undisclosed purchaser.
Completed in 2022, the Peachtree Apartments is a three-building, 100% affordable housing complex offering one-, two-, and three-bedroom apartments to income-qualified residents. The property is situated just off South Orange Avenue, providing convenient access to local employment hubs and points of interest.
“We are excited to announce the sale of Peachtree Apartments, a meticulously built project in a tier 1 municipality where the future is bright for new ownership,” Weilheimer said.
This sale marks Weilheimer’s second successful transaction involving an affordable housing complex in Livingston. He previously sold Don’s Apartments, a 12-unit property, for $1.3 million. In total, he has now facilitated the sale of seven affordable housing properties across New Jersey since 2021, accounting for approximately 225 units.
In the second transaction, Kislak represented the purchaser in the sale of 25 West Northfield Avenue. This assignment was handled by Weilheimer and Senior Vice President Scott Davidovic. The property, built in 1954, is an 8,100-square-foot single-story retail strip center with long-term tenants and high-traffic frontage.
