S.V.P. Daniel Lanni Handles Exclusive Sales
Woodbridge, N.J., June 5, 2019 – The Kislak Company, Inc. announced the sale of four investment properties – one in Belmar, one in Toms River and two in Little Egg Harbor, New Jersey – for a total of $7,505,000. The separate transactions included a total of 45 residential units and 8,317-square-feet of retail space.
Kislak marketed each property on an exclusive basis with senior vice president Daniel Lanni handling the assignments. Mr. Lanni also procured the purchaser in three of the transactions. “With each assignment in these Jersey Shore towns, we led a competitive bidding process and ultimately closed at strong prices,” said Mr. Lanni.
The Belmar property sold for $2,500,000 and is a newer construction mixed-use property with six residential units and 3,029-square-feet of retail space. The property is centrally located on the corner of Main Street and 7th Avenue, immediately off of Route 35, three blocks from the Belmar Marina. As a recently constructed building, the property was granted a 30-year tax abatement. Tenant amenities include on-site parking and in-unit washers and dryers. The building was fully occupied at the time of closing.
The Toms River property sold for $2,420,000 and is a well-maintained, three-story brick building located at 34-38 Main Street in the heart of downtown. It consists of 12 units and 5,288-square-feet of retail space. Consisting of 6 one-bedroom and 6 two-bedroom apartments at under market rents, the property affords tenants on-site storage and laundry as well as on-site parking – an attractive amenity in such a busy district. Commuting for work or pleasure is accessible conveniently via nearby Route 9 and the Garden State Parkway.
One Little Egg Harbor property sold for $1,610,000 and is located at 19 Pine Valley Court. It houses 20 two-bedroom, air-conditioned condominiums, each containing two bathrooms, eat-in kitchen, washer/dryer and private balcony or patio. Amenities include ample parking, club house, tennis courts and swimming pool. Located off Exit 58 on the Garden State Parkway, with major arteries such as Routes 539 and 9 running through the town, the property has additional, easy access to Atlantic City via New Jersey Transit bus service along Route 559.
Another Little Egg Harbor property, Lighthouse Gardens, sold for $975,000 and is a newly constructed, one-story apartment complex at 158 Oak Lane. It affords three one-bedroom and four two-bedroom units outfitted with stainless steel appliances, in-unit washers and dryers, and on-site parking. This property is also conveniently located off the Garden State Parkway.
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.
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 35 professionals provide comprehensive market coverage throughout New Jersey, New York, Pennsylvania and Delaware.
Now in its 113th year, Kislak was among a select group of firms recognized as a 2018 Power Broker by CoStar Group, Inc. and this was the firm’s thirteenth consecutive recognition.