BREAKING: Ten apartment complexes in Union County, New Jersey have been sold for a staggering $90 million, marking one of the largest multifamily transactions in the state for 2025. This urgent update comes as the real estate market continues to thrive in the region.
The off-market deal, facilitated by Kislak Co. based in Woodbridge, includes a total of 540 units spread across properties in Roselle, Roselle Park, Elizabeth, and Rahway. The identity of the buyer remains undisclosed, but Kislak Managing Director Jeff Squires represented the seller, Landmark Companies of Keasbey.
The largest asset in this portfolio is the Sunrise Village Apartments located at 145 Jerome St., Roselle Park, which consists of 275 units. The other properties vary in size from 14 to 48 units and include various apartment types such as studios, one-bedroom, and two-bedroom layouts. Notably, all properties offer on-site parking and are conveniently located near shopping and public transportation to New York City.
The complete list of properties sold includes:
– Sunrise Village Apartments, Roselle Park – 275 units
– 127-135 East Fifth Ave., Roselle – 48 units
– Chilton Manor, Elizabeth – 39 units
– Cheryl Gardens, Roselle – 32 units
– Riverside Apartments, Rahway – 30 units and one commercial space
– 123 West First Ave., Roselle – 30 units
– Astoria Manor, Elizabeth – 24 units
– Michael’s Manor, Roselle – 24 units
– Briar Lane Apartments, Roselle Park – 23 units
– White Rose Apartments, Roselle – 14 units
The sale represents a strategic repositioning for Landmark, whose principals Michael Gottlieb and Eric Harvitt stated, “We are making an effort to position our company for future success by diversifying geographically and improving the product type we own and manage.” They emphasized their ongoing commitment to New Jersey while also expanding into other markets, including a new residential community in Raleigh, North Carolina.
Squires highlighted the significance of the sale, noting, “The portfolio represents an extraordinary value-add opportunity for the purchaser to acquire over 500 well-maintained units in some of the strongest rental markets throughout northern New Jersey.”
This major transaction is a clear indicator of the robust real estate climate in New Jersey, which continues to attract significant investment. With the demand for rental properties surging, many are eager to see how this sale will impact the local market and future developments.
Stay tuned for more updates as this story develops.
