Lincoln Equities Group RWN Real Estate Partners Avenue Realty Capital Acquire Ocean Gate Apartments For $113M

The property involved in this closed transaction is a multifamily asset located at 30 Ocean Boulevard in Long Branch, New Jersey. It encompasses 170 residential units and was sold for $113,000,000, equating to a per-unit price of $664,706. This 2023-built property features resort-style amenities and is situated near Netflix’s new $1 billion Fort Monmouth campus.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $113,000,000
• Units: 170
• Price Per Unit: $664,706
• Broker: Niko Nicolaou - Cushman & Wakefield
• Buyers: Lance Bergstein - Lincoln Equities Group; Ari M. Shalam - RWN Real Estate Partners; Udi Kore - Avenue Realty Capital

This transaction involved key individuals and companies including Niko Nicolaou representing the brokerage firm Cushman & Wakefield. The buyers, comprised of Lance Bergstein from Lincoln Equities Group, Ari M. Shalam from RWN Real Estate Partners, and Udi Kore from Avenue Realty Capital, were pivotal in securing the deal for the Ocean Gate luxury apartment complex.