Kislak sells Monmouth County multifamily properties for $10.6M

The Kislak Co. on Wednesday said it recently sold several multifamily properties in Monmouth County for a total of $10.6 million.

Located in Neptune, Neptune City and Keansburg, the investments achieved top dollar during the selling process, and each had multiple bidders seeking to purchase.

Senior Vice President Daniel Lanni managed two of the three assignments exclusively and also procured the purchaser of each property.

“In the 12 years I have been selling investment real estate in Monmouth County, there has never been a better market,” Lanni noted. “Those who resisted selling in the past are now compelled, given the incredible investor demand and continued cap rate compression. Investors are liquid and there has never been a better opportunity for a seller to achieve top dollar. We had multiple bidders on these deals and efficiently serviced them from start to finish.”

The properties that sold include:

  • Steiner Ocean Apartments, 36 units at 65 Steiner Ave. in Neptune City, for $6.55 million;
  • 20 units at 14-32 Hancock St. in Keansburg, for $3 million; and
  • 8 units at 2-16 George St. in Neptune, for $1.075 million.