LONG BRANCH, NJ—The Kislak Company has arranged the sale of Fountain Gardens, a 46-unit multifamily property in Long Branch, Monmouth County, NJ, for $5.3 million. Kislak vice president Jeff Squires represented both parties in the transaction.

“We are beginning to see some long-time owners deciding to sell their multifamily properties given the historically high prices the properties are commanding,” says Squires. “Buyers are jumping at opportunities to own quality real estate in prime locations, regardless of current conditions or cash flows. These types of opportunities can be extremely lucrative for the long-term buy and hold strategy. The seller owned Fountain Gardens for over 40 years and it was on the market for only a week before we procured a buyer on an all-cash basis.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.