S.V.P.s Daniel Lanni and Joseph Keenan Arrange Exclusive Sale of 49 Units
Woodbridge, N.J., April 7, 2022 – The Kislak Company, Inc. announced the recent sale of the following two multifamily properties in Asbury Park, Monmouth County, New Jersey for $5,925,000:
- Springwood Flats with 32 units at 1215 Springwood Avenue, and
- The Washington with 17 units at 1266 Washington Avenue.
Kislak marketed the properties on an exclusive basis with senior vice president Daniel Lanni handling the assignment on behalf of the seller. Senior vice president Joseph Keenan procured the purchaser.
The properties are less than a mile from each other in an Opportunity Zone. Springwood Flats includes 32 studios and The Washington includes 16 one-bedroom units and one two-bedroom unit. Both properties have private entrances with on-site parking and including many recent upgrades.
“The seller engaged Kislak to represent them exclusively in the sale of the properties after trying to sell them on their own,” said Mr. Lanni. “Our approach was to identify the buyer with the highest probability of closing at the best price within the shortest timeframe. Working together, Joe and I exceeded the seller’s pricing expectations. We pride ourselves on achieving successful closings as quickly as possible with our hands-on approach throughout the entire transaction.”
Mr. Keenan added, “Asbury Park continues to be one of the most sought-after markets in New Jersey and my clients were quick to realize the potential of these under-appreciated assets. This is my fourth transaction with the Brooklyn based buyers, having represented them in all of their New Jersey acquisitions.”
Mr. Lanni joined Kislak in 2010 and is consistently among the firm’s leading producers. He specializes in the sale of multifamily and other investment properties in central New Jersey with a particular focus along the Jersey Shore. He was the recipient of the firm’s 2011 Rookie of the Year Award and was promoted to a senior vice president in 2019.
Mr. Keenan joined Kislak in 2006 and specializes in the sale of multifamily and other investment properties throughout northern New Jersey. He received the firm’s Rookie of the Year award in 2008 and was promoted to a senior vice president in 2019. Mr. Keenan’s investment sales total more than $250 million.
About The Kislak Company, Inc.
The Kislak Company, Inc., which is headquartered in Woodbridge, New Jersey, is a leading commercial real estate brokerage firm 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 thirty-five professionals provide comprehensive market coverage throughout New Jersey, New York, Pennsylvania, and Delaware.
Now in its 116th year, Kislak was among a select group of firms recognized as a 2021 Power Broker by CoStar Group, Inc. and this was the firm’s 16th consecutive recognition.