President Robert Holland, E.V.P Barry Waisbrod & E.V.P. Joni Sweetwood Arrange Exclusive Sale of 132 Units in Monmouth County
Woodbridge, N.J., June 6, 2022 – The Kislak Company, Inc. announced the recent sale of Keyport Village Apartments, a 132-unit apartment complex at 251 Atlantic Street in Keyport, Monmouth County, New Jersey, for $29,000,000.
Kislak marketed the property on an exclusive basis with president Robert Holland and executive vice president Barry Waisbrod managing the assignment on behalf of the seller, Keyport Village Apartments DE, LLC. Executive Vice President Joni Sweetwood procured the purchaser and longtime client.
The property consists of six, two-story, brick buildings containing 22 studios, 78 one-bedroom units, 30 two-bedroom units, and two three-bedroom units with modern kitchens upgraded with stainless steel appliances and granite counters and a mix of hardwood floors in the main living areas and carpeting in the bedrooms. Amenities include a fitness center, onsite laundry facilities and shopping and dining within walking distance from the property.
Mr. Holland highlighted the team’s expertise in the transaction and the future potential of the property, “The purchaser plans to upgrade the units, which will result in higher rents. I am proud of our teamwork getting this done.”
Mr. Waisbrod added, “The seller with whom we have long term relationship took advantage of the strong market and decided to sell, knowing the upside potential of the property due to its location and the quality.”
Ms. Sweetwood commented on the sale, “I sold this property to a longtime client who owns many properties outside the area, so this is first-time ownership in an area attractive because of its waterfront proximity and abundant local amenities. With more people working remotely, many people are moving south.”
Conveniently located near the Garden State Parkway and Route 36, the property has diverse, abundant transportation with buses to New York City nearby and ferry services to Manhattan via the Seastreak Ferry Line, just a 20-minute drive from Keyport Village.
Keyport is a borough in northern Monmouth County along Raritan Bay approximately 38 miles south of New York City.
Robert Holland joined Kislak in 1984, is one of the firm’s all-time leading sales producers and became President in 2012. In addition to overseeing the company and managing a team of salespeople, he specializes in the sale of multifamily and other investment properties with a primary focus in central and eastern Pennsylvania.
Barry Waisbrod joined Kislak in 2001 and is consistently among the firm’s leading salespeople. He specializes in the sale of multifamily and other investment properties throughout New Jersey and its neighboring states. Mr. Waisbrod received the firm’s Sima Kislak Jelin Salesperson of the Year award in 2019, 2015 and 2013. His investment sales total more than $1.2 billion.
Joni Sweetwood joined Kislak in 1996 and is also one of the firm’s all-time leading salespeople. She has won numerous awards, including the Sima Kislak Jelin Salesperson of the Year award in 2010 and the company’s production award in 2010, 2011, 2012 2013, and 2018. She has also been recognized repeatedly as one of New Jersey’s Commercial Broker All Stars and the Mid Atlantic Real Estate Journal’s Executive Women in Business. Her career investment sales total more than $1.3 billion.
About The Kislak Company, Inc.
The Kislak Company, Inc., which is headquartered in Woodbridge, New Jersey, is a leading commercial real estate brokerage 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.