A multi-family apartment complex set a record in Neptune City.
The 80-unit garden apartment complex, Hampshire Terrace, sold for $20 million, setting a new benchmark for multifamily sales in the city. The property sits at 108 Riverview Avenue, just steps from the Shark River and minutes from the Jersey Shore.
The two-story community features 56 one-bedroom units and 24 two-bedroom units, scattered across multiple brick buildings.
Before sale, the complex underwent an overhaul. Recent renovations fully updated kitchens with modern appliances, added hardwood floors, and installed in-unit laundry. The property welcomes pets.
The transaction was handled exclusively by The Kislak Company, Inc. Robert Holland represented the seller, Hampshire Associates LP, while Daniel Lanni secured the buyer, according to Real Estate NJ.
Residents of Hampshire Terrace enjoy easy access to local dining—incpuding top restaurants in the state—shopping, entertainment, and easy nearby beach access. Commuters benefit from proximity to major highways and NJ Transit rail and bus connections, making even NYC commutes a possibility.
This sale marks the largest multifamily transaction in Neptune City in over a decade, highlighting growing investor interest along the Jersey Shore which has seen a sharp uptick in beachside development.
The New Jersey Digest is a new jersey magazine that has chronicled daily life in the Garden State for over 10 years.