In another bet on the Garden State, JCMLiving picked up a 120-unit multifamily building in Linden this week. The seller was an LLC associated with accounting firm Citrin Cooperman and New York landowner, the late Charles Dimston.
Kislak Company senior vice president Jeff Squires, who arranged the New Jersey deal, said the building at 315-441 Academy Terrace closed at a sub-4-percent cap rate, an indication of the property’s “tremendous demand.”