BREAKING NEWS: Ten apartment complexes in Union County, New Jersey, have been sold for an astonishing $90 million, marking one of the largest multifamily transactions of 2025. This significant off-market deal was orchestrated by Woodbridge-based Kislak Co. and involves a total of 540 units across properties in Roselle, Roselle Park, Elizabeth, and Rahway.
According to the latest data from CoStar, the largest property in this portfolio is the Sunrise Village Apartments in Roselle Park, which boasts 275 units. Other properties included in the deal range from 14 to 48 units each, featuring a mix of studios, one-bedroom, and two-bedroom apartments, all equipped with on-site parking. These complexes are strategically located near shopping centers and public transportation routes to New York City, enhancing their appeal to potential renters.
The properties sold include:
– Sunrise Village Apartments, 145 Jerome St., Roselle Park – 275 units
– 127-135 East Fifth Ave., Roselle – 48 units
– Chilton Manor, 212 Westfield Ave., Elizabeth – 39 units
– Cheryl Gardens, 408 Chestnut St., Roselle – 32 units
– Riverside Apartments, 145 Dock St., Rahway – 30 units and 1 commercial space
– 123 West First Ave., Roselle – 30 units
– Astoria Manor, 854 West Grand St., Elizabeth – 24 units
– Michael’s Manor, 143-147 East Fifth Ave., Roselle – 24 units
– Briar Lane Apartments, 222 East Westfield Ave., Roselle Park – 23 units
– White Rose Apartments, 214-216 East First Ave., Roselle – 14 units
The deal was facilitated by Jeff Squires, Managing Director at Kislak, who represented the seller, Landmark Companies of Keasbey. The identity of the buyer remains undisclosed. Landmark’s principals, Michael Gottlieb and Eric Harvitt, indicated that this sale is part of a strategic repositioning, as they aim to exchange some of their legacy holdings for a newer residential community located in Raleigh, North Carolina.
In a statement, Gottlieb and Harvitt emphasized their commitment to future developments, saying, “We are making an effort to position our company for future success by diversifying geographically and improving the product type we own and manage. New Jersey will always be the center of our universe, and we are excited about future development and acquisitions here, but we also feel it is healthy to have a presence in other markets as well.”
Most of the properties had been owned and managed by the original developer’s family for three generations, indicating a significant shift in ownership dynamics in the region. Squires noted, “The sale of 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 not only reshapes the multifamily housing landscape in New Jersey but also highlights the ongoing demand for residential properties in the area. As the real estate market continues to evolve, stakeholders are advised to monitor further developments closely.
Stay tuned for updates on this breaking story as new information emerges regarding the buyers and future implications for the New Jersey rental market.