LONG BRANCH AND ASBURY PARK,NJ—Two longtime property owners are takingadvantage of the brisk market for multifamily assets and cashingout, letting The Kislak Company broker sales of acombined 82 units in Long Branch and Asbury Park for $10.8million.

The separate transactions include the $7.7 million sale ofWest End Gardens, a 56-unit garden apartmentcommunity in Long Branch and the $3.1 million sale ofParkview Terrace, a 26-unit high rise in AsburyPark. Kislak marketed the properties on an exclusive basis and vicepresident Daniel Lanni represented all parties inthe transactions. Buyers and sellers were not disclosed.

"The market for multifamily properties remains very strongthroughout New Jersey and the Monmouth County submarket is noexception," says Robert Holland,Kislak president. "Since last year alone,Kislak sold more than $70 million worth ofmultifamily properties in Monmouth County led, in large part, byDan's efforts. He is the regional expert and amaster marketer. I am very proud of his continued success."

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

  • 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
NOT FOR REPRINT

© 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.

Steve Lubetkin

Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].