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.”

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