The Kislak Company, Inc. on Wednesday announced the sale of Hampshire Terrace, a premier 80-unit garden apartment complex, for $20 million. The transaction represents the largest multifamily sale in Neptune City in over a decade, according to market data from CoStar.
The exclusive sale was orchestrated by Kislak’s leadership team. President Robert Holland represented the seller, Elliot Leibowitz of Hampshire Associates, LP, while Senior Vice President Daniel Lanni procured the undisclosed purchaser.
Hampshire Terrace, located at 108 Riverview Avenue, consists of several two-story brick buildings featuring 56 one-bedroom and 24 two-bedroom units. The property recently underwent significant upgrades to meet modern tenant demands, including:
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Remodeled kitchens: Outfitted with stainless steel appliances, dishwashers, and built-in microwaves.
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Luxury finishes: Modern hardwood flooring and spacious closet designs.
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In-unit convenience: Private washer/dryer units in every apartment.
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Lifestyle amenities: Pet-friendly policies and professionally manicured lawns.
The property’s $20 million price tag is bolstered by its strategic location near the Jersey Shore and major transportation arteries. It offers immediate access to:
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Highways: Quick entry to the Garden State Parkway and Routes 18, 33, 35, and 195.
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Public transit: Proximity to NJ Transit’s North Jersey Coast Line at both the Bradley Beach and Belmar stations, providing a direct link to New York City.
“This was a textbook example of how strong relationships and expertise drive results,” Lanni said. “The buyer understood the property’s value early in the process and closed efficiently, resulting in the exact outcome we strive to deliver for our clients.”
