JERSEY CITY—The Kislak Company Inc. has sold the Sevilla Apartments, a 116-unit apartment building with 14 retail spaces, for $11.2 million dollars.
The Sevilla Apartments is located in the Journal Square section of Jersey City, a short walk to the Journal Square PATH station and an easy commute to New York City. Constructed in 1925, it is a five-story brick elevator building with 116 residential units and 14 retail spaces with many recent upgrades.
The seller was represented by Harry Reidler, Esq. of Fort Lee and the purchaser was represented by Joanne Sarubbi, Esq. of Millburn. Financing was provided by Oritani Bank. At the time of closing, the property was 97 percent occupied.