Kislak sells 4 Jersey Shore investment properties for $7.5M

By Emily Bader
Monmouth/Ocean counties | Jun 6, 2019 at 7:15 am

The Kislak Co. Inc., a commercial real estate brokerage based in Woodbridge, announced Wednesday the $7.5 million combined sale of four investment properties, one in Monmouth County and three in Ocean County.

The transactions — one in Belmar, one in Toms River and two in Little Egg Harbor — include a total of 45 residential units and 8,317 square feet of retail space.

Daniel Lanni, senior vice president, handled each assignment and procured the buyer for three of the four deals.

“With each assignment in these Jersey Shore towns, we led a competitive bidding process and ultimately closed at strong prices,” Lanni said.

The mixed-use Belmar property, which sold for $2.5 million, was recently constructed and is comprised of six residential units and 3,029 square feet of retail space. It is located on the corner of Main Street and 7th Avenue. Tenant amenities include on-site parking and in-unit washer and dryers. It is immediately accessible from Route 35.

The Toms River property sold for $2.4 million and is a three-story brick building located at 34-38 Main St. It is comprised of 12 units — six one-bedroom and six two-bedroom — and 5,288 square feet of retail space. Tenant amenities include on-site storage, laundry and on-site parking. It is within close access to Route 9 and the Garden State Parkway.

The first Little Egg Harbor property sold for $1.6 million and is located at 19 Pine Valley Court. It features 20 two-bedroom condominiums with amenities including parking, club house, tennis courts and a swimming pool. It is within close access to Exit 58 of the Garden State Parkway.

The other property, Lighthouse Gardens, sold for $975,000 and is a newly-constructed one-story apartment complex located at 158 Oak Lane in Little Egg Harbor. It has three one-bedroom units and four two-bedroom units. It is also located within close access to the parkway.

Emily Bader | ebader@roi-nj.com | emilybader