The deal, which had been reported earlier this month, saw St. Mary Developers LLC sell the motel at 170 Ocean Ave. to the real estate developer, which owns the nearby Pier Village complex, Woodbridge-based Kislak said.
Jeffrey Wiener, a Kislak senior vice president, and Jason Pucci, the firm’s chief operating officer, arranged the off-market sale.
“The property was a natural fit for Kushner, given its oceanfront location next to Pier Village,” Wiener said in a prepared statement. “Over the past 30 years, my colleagues and I have done more than 70 deals with Kushner, and Jason and I were pleased to assist with their expansion in Long Branch.”
The 9,600-square-foot motel, built in 1958, sits on 0.8 of an acre along with its on-site parking. Reports have said Kushner may utilize the property as part of the third phase of the Pier Village project.
Gerald Miller of Miller, Meyerson & Corbo was the attorney representing the seller, while Alan Hammer and Jeffrey Itzkowitz of Brach Eichler LLC were the attorneys representing the buyer.