45 Quentin Ave. in New Brunswick — Courtesy: The Kislak Co. Inc.
By Marlaina Cockcroft
A multifamily property in New Brunswick has sold for $2.45 million, according to a news release from The Kislak Co. Inc.
The brokerage firm, which is based in Woodbridge, exclusively marketed the 20-unit property at 45 Quentin Ave. Daniel Lanni, a senior vice president with Kislak, represented the seller, while Barry Waisbrod, an executive vice president, brought in the buyer.
“This sale reflects the continued strong demand for well-located multifamily properties in New Brunswick,” Lanni said. “I was pleased to represent the seller and successfully leverage the property’s proximity to Rutgers and NJ Transit and long-term value-add potential to achieve a successful closing.”
The property, about 12,771 square feet, according to property records, features seven studios and 13 one-bedroom apartments in a brick building with a parking lot. It was built in 1960, according to property records. Located near Rutgers University, Robert Wood Johnson University Hospital and Saint Peter’s University Hospital, the property offers quick access to the New Brunswick train station and commutes to New York City as well as to Route 27.
Waisbrod said in the release, “The purchaser was drawn to the property by the strength of the New Brunswick market and plans to invest in upgrades and hold the property for the long term.”
