S.V.P. Daniel Lanni Completes Multiple Exclusive Sales
Woodbridge, N.J., October 23, 2020 – The Kislak Company, Inc. announced the recent sale of four individual investment properties totaling $11,445,000 in Red Bank, Long Branch and Freehold, all in Monmouth County, New Jersey.
Kislak marketed the properties on an exclusive basis on behalf of the sellers with senior vice president Daniel Lanni handling the assignments. Mr. Lanni also procured the purchaser in each transaction. He commented, “2020 has been a challenging year for sure. However, investment real estate sales in Monmouth County remain consistently strong and investor demand has never been greater in my 10 years working the market. Buyers are taking advantage of historically low interest rates and sellers are benefiting from record sale prices, a true win-win.”
The Coastal Building is a four-story Class A office building located directly on the Navesink River at 151 Bodman Place in Red Bank — close to the heart of downtown shopping, restaurants, and the train station. Comprised of approximately 29,200 square feet on 1.16 acres, the property affords on-site building management and onsite parking. Convenient accessibility to the Garden State Parkway is less than 3 miles away. The sale price was $6,200,000.
Also located in Red Bank, 95-97 Broad Street is a 4,935-square-foot commercial building with on-site parking. The property was fully leased at the time of closing. The sale price was $1,325,000.
At 345 Morris Avenue in Long Branch, the Morris Mews property houses 18 garden apartments in a two-story residential complex with a recently renovated timberline roof. Amenities include a large private parking lot in the rear, a two-basement laundry room and walking distance to a nearby elementary school, community college and medical center. Also, within walking distance is a train with direct access to New York City. The sale price was $2,470,000.
The Freehold property at 71 West Main Street houses 16 tenants in a three-story, elevator office building with approximately 14,400 square feet of space. Recent improvements include a repaved parking lot, new roof, plumbing upgrades inclusive of new bathrooms, AC wall units, front awning and internal doors upgraded to fire safety standards. Both bus and train access are within nearby reach. The sale price was $1,450,000.
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 2019. In 2020 he was recognized in the Mid-Atlantic Real Estate Journal’s 40 under 40 Spotlight.