The Kislak Company, Inc. recently announced the sale of The Alivia in Maplewood, Essex County, New Jersey, for $7.6 million.
The four-story, 20-unit, luxury apartment building was completed in 2019 and is located at 479 Valley Street. The building contains 10 one-bedroom units, nine two-bedroom units, and one three-bedroom unit. 18 of the units are market-rate and two of them are affordable. Residents have access to an elevator, garage parking, and several amenity areas, including a fitness center and on-site office.
Kislak marketed the property on an exclusive basis on behalf of the builder and seller, 479 Valley Road, LLC, an affiliate of a long-time client, with Executive Vice President Joni Sweetwood handling the assignment. Ms. Sweetwood also procured the purchaser, Sunblossom Alivia 479, LLC, an affiliate of a locally based owner with a strong presence in the market, which is also a long-time client.
Commenting on the transaction, Ms. Sweetwood said, “This is superior quality construction in a desirable transit-oriented location. The purchaser will do well with this property, and it complements the other nearby properties in their portfolio.”
The Alivia is positioned a short walk from downtown Maplewood and neighboring South Orange, each with direct train service to and from New York City. It is across from Columbia High School, which serves the South Orange-Maplewood School District.
The Kislak Company, Inc. is a commercial real estate brokerage firm headquartered in Woodbridge, New Jersey.