Oceanfront Corner Assemblage Adjacent to Pier Village Complete
Woodbridge, N.J., August 16, 2018 – The Kislak Company, Inc. announced the recent off-market sale of two properties in Long Branch, New Jersey that completed an oceanfront corner assemblage adjacent to Pier Village.
The transactions include the $2,700,000 sale of 176 Ocean Avenue, an oceanfront single family home with a guest house on nearly a third of an acre, and the $1,450,000 sale of 34 Morris Avenue, another single family home on over a quarter of an acre. Both properties border the former Ocean Court Motel property at 170 Ocean Avenue, which is at the corner of Ocean Avenue and Morris Avenue and spans eight-tenths of an acre.
The sellers of 176 Ocean Avenue and 34 Morris Avenue are a private company and individual, respectively. The purchaser is an affiliate of Kushner, the diversified real estate organization headquartered in New York City. Kushner is also an owner of Pier Village, which is just north of the assemblage, and purchased the Ocean Court Motel property in 2017 in another off-market sale arranged by Kislak.
Kislak’s chief operating officer Jason Pucci and senior vice president Jeffrey Wiener handled all of the sales.
“These properties are a natural fit for Kushner given their oceanfront location just south of Pier Village,” said Mr. Pucci. “Over the past 30 years, Jeff Wiener, our colleagues and I have done more than 70 deals with Kushner and we are pleased to assist with their expansion in Long Branch.”
The assemblage is ideally located along the ocean between Pier Village and several new developments in one of the most desirable beachfront destinations along the Jersey Shore. Many new condominium and rental developments are underway and planned.
Long Branch is located 55 miles south of Manhattan – one hour by car and 40 minutes from Wall Street via the Sea Streak Ferry that leaves from nearby Highlands. The Long Branch train station is two blocks west of the assemblage and is connected to New York City and northern New Jersey via New Jersey Transit trains on the North Jersey Coast Line. During peak season, a shuttle service runs between the train station and Pier Village. Plans for a pier and ferry in Pier Village have been advanced by the City of Long Branch, which would provide direct ferry access to New York City.
The seller of 176 Ocean Avenue was represented by R. Jerome Jabbour, Esq. and the seller of 34 Morris Avenue was represented by Robert Witek, Esq. of Resnikoff & Witek. The purchaser was represented by Alan Hammer, Esq., Brian Peykar, Esq. and Jeffrey Itzkowitz, Esq. of Brach Eichler, LLC.
Mr. Pucci joined Kislak in 2006 and is responsible for the management of the firm’s operations. He is also involved in many of Kislak’s transactions in a strategic advisory role. Since joining Kislak, the firm has closed more than 1,200 transactions valued at $5 billion.
Wiener joined Kislak in 1973, was the firm’s president from 1995 to 2011 and remains active in a senior sales capacity. Since joining Kislak, he has sold over 200 apartment buildings, shopping centers and office buildings valued at more than $3 billion.
About The Kislak Company, Inc.
The Kislak Company, Inc., which is headquartered in Woodbridge, New Jersey, is a leading commercial real estate brokerage consistently recognized for its investment sales success. Established in 1906, Kislak’s market leadership position and longevity are due to its ability to offer clients a personalized, hands-on approach, coupled with the unrivaled expertise of its long-tenured team of professionals. Kislak’s prestigious client base includes individual investors and owners, partnerships, financial institutions, and REITs. The firm’s 30 professionals provide comprehensive market coverage throughout New Jersey, New York, Pennsylvania and Delaware.
Now in its 112th year, Kislak was among a select group of firms recognized as a 2017 Power Broker by CoStar Group, Inc. and this was the firm’s twelfth consecutive recognition.
For more information about The Kislak Company, Inc., please contact Jason Pucci, chief operating officer, at (732) 750-3000 or firstname.lastname@example.org, or visit www.kislakrealty.com.