LONG BRANCH, NJ-Morgan Properties has put a portfolio of 228 apartments in four separate properties, all near the Atlantic Ocean in this city’s West End district, on the market for sale. The asking price for the entire package is $34.5 million, which factors out to just more than $151,000 per unit.

And the King of Prussia, PA-based Morgan has hired Gebroe-Hammer Associates, Livingston, NJ, to find a buyer for the properties. That firm’s Joseph Brecher, SVP, and sales associate Steven Follman are handling the assignment.

“For multifamily investments, Monmouth County is a hotbed of activity because of the long-term inherent value associated with owning property in a seaside community,” Brecher says. “The disposition of a 14-acre portfolio of this size is rare in today’s market, which is characterized by a lack of for-sale product in all class categories.”

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