Kislak Arranges $18.5M Sale of Kingsley Arms Apartments in Asbury Park, New Jersey

ASBURY PARK, N.J. — New Jersey-based brokerage firm The Kislak Co. Inc. has arranged the $18.5 million sale of Kingsley Arms Apartments, a 98-unit multifamily building in Asbury Park. The unit mix consists of 23 studios, 68 one-bedroom units, five two-bedroom units and two penthouses. Units were renovated in 2016, and building upgrades were completed earlier this year. Amenities include a fitness center, media room and a rooftop terrace. Daniel Lanni of Kislak represented the seller, Sackman Residential Holdings LLC, and the buyer, an entity doing business as 200 Deal Lake LLC, in the transaction. ConnectOne Bank provided acquisition financing.

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