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Kislak sells 132 units in East Orange


Brokerage firm The Kislak Company, announced the sale of Harrison Gardens and Elm Gardens in East Orange.

Senior Vice President Joni Sweetwood marketed the property and procured the buyer, a private investor.

Harrison Gardens, located at 255-271 S. Harrison St., is an 88-unit apartment complex. The property consists of 27 one-bedroom units and 61 two-bedroom apartments.

Elm Gardens is a 44-unit property located at 296-310 S. Harrison St. in East Orange. The property has been upgraded in recent years, according to Kislak.

The combined properties traded for $12.75 million.

Kislak said it expects the net operating income for the two properties to increase by almost 70 percent.

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