S.V.P. Daniel Lanni Arranges Multiple Sales
Woodbridge, N.J., November 24, 2019 – The Kislak Company, Inc. announced the recent sale of three properties in central New Jersey with 36 residential units and over 15,000 square feet of commercial space, for a total of $8,480,000.
The separate transactions include the $4,200,000 sale of Rose Gardens, a 32-unit garden apartment complex in Long Branch, Monmouth County; the $3,300,000 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
“Monmouth and Ocean Counties remain a strong market for all types of investment real estate,” said Mr. 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.”
Rose Gardens is a two-story brick garden complex at 336 Third Avenue in Long Branch, built in 1955, consisting of two studios and 30 one-bedroom apartments all with hardwood flooring. Recent renovations include a new roof, boiler, and hot water tank. Amenities include an onsite laundry facility along with ample parking o. The property is within walking distance to New Jersey Transit at the Long Branch Station and the nearby Monmouth Medical Center.
The Matawan shopping center
includes approximately 13,000 square feet of retail space located in the heart
of the borough with a mix of national and local tenants and ample on-site
The mixed-use property at 2700 Bridge Avenue in Point Pleasant is a Class B building, consisting of retail at street level and renovated residential units on the second floor. Features include central air-conditioning, forced hot air heat, wall-to-wall carpeting and ample off-street parking. Located at the corner of Curtis and Bridge Avenues, it is a premier high-traffic spot on Bridge Avenue, the major east/west Point Pleasant thoroughfare. The property was fully occupied at time of sale.
Daniel 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
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 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.