CENTRAL NEW JERSEY— The Kislak Company, Inc. announced the recent sale of three properties in central New Jersey with 36 residential units and over 15,000 s/f of commercial space, for a total of $8.48 million.
The separate transactions include the $4.2 million sale of Rose Gardens, a 32-unit garden apartment complex in Long Branch, Monmouth County; the $3.3 million sale of a shopping center in Matawan, Monmouth County; and the $980,000 sale of a mixed-use property in Point Pleasant, Ocean County.
Senior vice president Daniel Lanni represented all parties in the transactions with the Matawan retail property being an off market transaction that was the completion of a1031 like-kind exchange for the purchaser.
“Monmouth and Ocean Counties remain a strong market for all types of investment real estate,” said Lanni. “We are consistently selling multifamily, retail and mixed use properties at the Jersey Shore for top dollar and clients rely on our expertise to guide the transactions to closing as smoothly as possible.”