Search
 

Kislak Brokers $17.75 Million Sale of Red Bank MF

RED BANK, NJ—The Kislak Company brokered the $17.75 million sale of a new 45-unit luxury apartment building on the corner of Monmouth and West Streets in downtown Red Bank, NJ.

By Steve Lubetkin | stevelubetkin | | Updated on May 13, 2016
Multifamily property sold by Kislak at the corner of Monmouth and West Streets, Red Bank, NJ Multifamily property sold by Kislak at the corner of Monmouth and West Streets, Red Bank, NJ
RED BANK, NJ—The Kislak Company brokered the $17.75 million sale of a new 45-unit luxury apartment building on the corner of Monmouth and West Streets in downtown Red Bank, NJ. Kislak marketed the property on an exclusive basis. Vice president Daniel Lanni represented both parties in the transaction, but the firm declined to identify them. “The market for multifamily properties remains extremely strong throughout New Jersey, particularly for new construction in walkable downtowns,” says Robert Holland , Kislak president. “Red Bank is among the most desirable municipalities in central New Jersey and along the Jersey shore with one of the most vibrant downtowns. Daniel did an outstanding job marketing and selling the property for a record price.” Kislak says the sale represented the highest per unit price ever paid for an apartment building in Red Bank and Monmouth County—$394,444—according to data available from CoStar . The property is a class A luxury apartment building completed in 2015. Units have open floor plans with walk-in closets, stainless steel appliances, on-site storage units and on-site garage parking with video monitoring. The property is located one block from the Red Bank train station. Red Bank is located on the Navesink River approximately five miles from the Atlantic Ocean and 50 miles from New York City. Its downtown includes a mix of businesses, restaurants and eclectic and luxury retailers including Tiffany & Co. and Restoration Hardware , along with a thriving arts scene anchored by the historic Count Basie Theatre .  

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.