The Kislak Company, announced the recent sale of a 5,175-square-foot mixed-use building with four residential units and two retail spaces at 21-23 Leigh Street in Clinton, Hunterdon County, New Jersey, for $1,050,000.
Kislak marketed the property on an exclusive with senior vice president Daniel Lanni handling the assignment on behalf of the seller, Clinton Properties, LLC. He also procured the purchaser, which was in need of a Section 1031 exchange.
Mr. Lanni commented, “This was the fastest transaction in which I have been involved. The offer was accepted immediately, the contract was drafted the following day and signed without any due diligence and the closing occurred one week later on an all-cash basis.”
Located within easy walking distance of the downtown area of this quaint yet active town, the property consists of a three-story, mixed-use building with four completely renovated, large apartments and two retail spaces on the ground floor, all total approximately 5,175 square feet. Recent renovations to the interior of the apartments included wood flooring, new stainless-steel appliances, stone countertops and in-unit washers and dryers among other attractive features. Additional enhancements included new electrical wiring, roofing and siding. Occupancy at the time of the sale was 100%.
While small, the town of Clinton is vibrant with many events, resources and services for businesses and residents alike, offering walking trails, parks, museums, restaurants, a main street, tree-lined streets, and waterfront along the Raritan River, host to two grist mills and a historic iron bridge.
Transbridge Bus Lines makes for easy access to New York City, running multiple daily trips to both midtown Manhattan and Wall St. From Annandale, about five minutes from downtown Clinton, NJ Transit runs trains to both Newark and New York. Located right off of Route 78, Clinton is approximately 50 miles from New York City and 60 miles from Philadelphia, making it an ideal location for residents, visitors and business partners.
Daniel Lanni joined Kislak in 2010 and is consistently among the firm’s leading producers. He specializes in the sale of multifamily and other investment properties in central New Jersey with a particular focus along the Jersey Shore. Mr. Lanni was the recipient of the firm’s 2011 Rookie of the Year Award and was promoted to a senior vice president in 2019. He has also been recognized by the Mid Atlantic Real Estate Journal as one of its 40 Under 40 in commercial real estate.
About The Kislak Company, Inc.
The Kislak Company, Inc., which is headquartered in Woodbridge, New Jersey, is a leading commercial real estate brokerage firm consistently recognized for its investment sales success. Established in 1906, Kislak’s market leadership position and longevity are due to its ability to offer clients a personalized, hands-on approach, coupled with the unrivaled expertise of its long-tenured team of professionals. Kislak’s prestigious client base includes individual investors and owners, partnerships, financial institutions, and REITs. The firm’s professionals provide comprehensive market coverage throughout New Jersey, New York, Pennsylvania, Delaware and Florida.
Now in its 118th year, Kislak was among a select group of firms recognized as a 2023 Power Broker by CoStar Group, Inc. and this was the firm’s 18th consecutive recognition.
