Hampshire Terrace, a multi-building garden apartment property in Neptune City, changed hands for $20,000,000. Located at 108 Riverview Avenue, the 80-unit community is steps from Shark River and minutes from Jersey Shore beaches. Per data available from CoStar, the transaction is the largest multifamily sale in Neptune City in at least the last decade.
The deal for the Neptune City apartment complex was brokered exclusively by Woodbridge-based the Kislak Company, Inc. with President Robert Holland & Senior Vice President Daniel Lanni marketing the property. Holland worked on behalf of the seller, Elliot Leibowitz of Hampshire Associates, LP. while Lanni secured the undisclosed purchaser.
“This was a textbook example of how strong relationships and expertise drive results. The buyer understood the property, committed to a purchase early in our process, and closed efficiently,” commented Kislak’s Lanni. “It was exactly the kind of outcome we strive to deliver.”
The two-story garden apartment complex houses 56 one-bedroom and 24 two-bedroom units in several brick buildings on a landscaped campus. Hampshire Terrace was recently renovated, with all kitchens updated with new dishwashers, appliances, and built-in microwaves. The homes also include hardwood floors, spacious closets, and in-unit laundry. The property is pet-friendly.
The Monmouth County community offers residents easy access to local shopping, dining, entertainment, Jersey Shore beaches, and surrounding towns, including Belmar and Asbury Park. Commuters are connected by many major highways, NJ Transit buses, and two nearby NJ Transit commuter rail stations.
