The Kislak Company Inc. announced Tuesday the recent sales of co-op portions at two multifamily properties in Elizabeth and Passaic for approximately $7 million.

The transactions include 51 out of 190 co-op units at the Barry Gardens in Passaic for $3.9 million and 44 out of 85 co-op units at Tudor Court in Elizabeth for $3.17 million.

According to Kislak, the co-ops have been operating as rentals.

Kislak has been marketing the properties on an exclusive basis. Jeff Squires, vice president, represented both the sellers in the transaction and the buyer in the Elizabeth sale. Robert Squires represented the buyer in the Passaic sale.

“These sales represented unique opportunities for investors to acquire a significant portion of co-op units in well-established properties,” Robert Holland, president, said in a statement. “Both properties are strong and stable in excellent locations.”

“Tudor Court and Barry Gardens are both among the most desirable garden apartment communities in each of their respective markets.  Both properties are a short walk to the train and have been held by the same owner for over 30 years,” Jeff Squires said in a statement. “We were able to quickly procure purchasers for each property and Tudor Court closed on an all-cash basis.”

“Rarely does such a large property come on the market in Passaic Park,” Robert Squires said in a statement.  “After obtaining the listing for Barry Gardens, Kislak received an overwhelming demand for the offering memorandum, after which we were able to secure a deal.”

Jeff Squires joined Kislak in 2007. He specializes in multifamily sales and other investment properties throughout northern New Jersey. Robert Squires joined the firm in 2003 and also specializes in multifamily and investment sales.