Hampshire Terrace at 108 Riverview Ave. in Neptune City — Courtesy: The Kislak Co. Inc.
By Joshua Burd
A private investor has acquired an 80-unit garden apartment complex in Neptune City for $20 million, according to a listing team with The Kislak Co. Inc.
The property, located at 108 Riverview Ave., changed hands in what brokers say was the largest multifamily sale in the city in at least the last 10 years, citing data available from CoStar. Kislak President Robert Holland represented the seller, Elliot Leibowitz of Hampshire Associates LP, while Senior Vice President Daniel Lanni procured the buyer in the transaction.
“This was a textbook example of how strong relationships and expertise drive results,” Lanni said. “The buyer understood the property, committed to a purchase early in our process and closed efficiently. It was exactly the kind of outcome we strive to deliver.”
Known as Hampshire Terrace, the two-story complex consists of 56 one-bedroom and 24 two-bedroom units in several brick buildings surrounded by landscaped lawns and shrubbery, Kislak said. Recent renovations include remodeled kitchens with stainless steel appliances, dishwashers and built-in microwave ovens, augmenting features such as spacious closets, luxury hardwood flooring, in-unit washer and dryers and a pet-friendly environment.
Brokers noted that the property is close to Jersey Shore beaches and has quick access to the Garden State Parkway, Interstate 195 and routes 18, 33 and 35, making it well-connected to the Northeast Corridor. Residents are also a short drive from NJ Transit’s Bradley Beach and Belmar stops, which provide commuter rail service to New York City on the North Jersey Coast Line.
