Multifamily Asset At 1222-1230 First Avenue Sold For $2.3 Million By Daniel Lanni & Robert Squires
1222 1230 First Avenue
$2,300,000
$92/SF
Building Size
25,000 SF
Asset Type
MultiFamily
Closing
Nov 13, 2025
AI
The transaction involves a multifamily asset located at 1222-1230 First Avenue in Asbury Park. The sale price of the property was $2,300,000, encompassing a total of 10 units, which translates to a price per unit of $230,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,300,000
- Units: 10
- Price Per Unit: $230,000
- Market: Asbury Park
The brokers representing the deal were Daniel Lanni and Robert Squires from Kislak, who played a key role in facilitating the transaction.
Players
Asbury Park MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93