Asbury Park rental property sells for $2.3M, record per-unit price, Kislak says

A multifamily property in Asbury Park sold for $2.3 million recently, according to real estate firm the Kislak Co. Inc.

The three-story building at 407 8th Ave. has 13 units, mostly one-bedroom layouts, the firm said in a news release. The firm said the per-unit price of $176,923 was the highest achieved in Asbury Park since 2006, according to CoStar data.

Daniel Lanni, senior vice president with the Woodbridge-based firm, marketed the property on an exclusive basis, and procured the purchaser, 407 Asbury LLC. The seller was not disclosed.

“We sold this property to the seller in 2018 and, in less than three years, following unit renovations and increased rents, the seller realized a $600,000 profit and a record price,” he said in a prepared statement.