36 Morris Ave. in Long Branch — Courtesy: The Kislak Co. Inc.
By Joshua Burd
An affiliate of Kushner Cos. has completed an assemblage in Long Branch to pave the way for the development of a new oceanfront hotel, in a deal arranged by The Kislak Co. Inc.
In a news release, the brokerage firm said PV Motel LLC paid $1.45 million for the nearly half-acre parcel at 36 Morris Ave. The property is the fourth in a cluster of sites that the firm has acquired starting in 2017, Kislak said, noting that the area is immediately south of The Lofts at Pier Village development and 300 feet west of the Atlantic Ocean.
Kislak Chief Operating Officer Jason Pucci represented both PV Motel LLC and the private seller in the off-market transaction.
“Since the beginning of our assignment, these properties have been a natural fit for Kushner given their oceanfront location just south of Pier Village and Kushner’s strong presence in Long Branch,” Pucci said. “Over the past 30 years, Kislak has closed more than 70 transactions with Kushner, and we are pleased to assist with their continued expansion in and redevelopment of Long Branch.”
Located at the corner of Ocean Boulevard, the property is located between the landmark Pier Village complex and several new developments in the city. In addition to 36 Morris Ave., the 1.86-acre assemblage includes 34 Morris Ave. and 170 and 176 Ocean Ave.
Michael Benedetto of Ansell Grimm & Aaron PC was the seller’s attorney, while Alan Hammer and Brian Peykar of Brach Eichler LLC represented the buyer.
