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."
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