The Kislak Co. Inc. on Wednesday announced it brokered the sale of four East Coast apartment complexes in separate deals totaling more than $26.6 million.
In the first sale, which included two properties, Kushner Properties sold Crescent Gardens and Gramercy Park Apartments for an aggregate price of nearly $11.9 million. Crescent Gardens is a 240-unit multifamily complex located at 1622 Independence Road, and Gramercy Park comprises 104 units located at 2880 Hull Road — both assets are located in Camden, N.J.
The second transaction involved the $8.5 million sale of The Garner House, a 102-unit mixed-use complex, located at 50 South Penn Street in Hatboro, Pa. The Garner House is comprised of 96 apartment units and six retail units. The 20,000 square feet in retail units were occupied by a variety of professional services tenants at the time of sale.
In the final sale, a 114,971-square-foot (91,000-square-foot office plus 24,000-square-foot warehouse) retail center in Camden, N.J., traded hands between unidentified parties. The property, located at 2600 Mount Ephraim Ave., sold for $6.3 million. At the time of sale, tenants included the Army/Navy Recruitment Center, New Jersey Department of Labor, Camden Department of Motor Vehicles, a One-Stop Career Center and the Department of Family Health Services, among others. Additionally, there is a 2,500-square-foot pad site under construction for a Popeye’s Chicken.
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