New York City-based Institutional real estate investment firm First National Realty Partners has acquired The Coastal Building, a Class A, 29,178-square-foot trophy office building on the Navesink River in Red Bank, New Jersey. The property, located at 151 Bodman Place, was acquired in an off-market transaction. Terms were not disclosed.
“The Coastal building is truly a one-of-a-kind asset. The views the building offers the tenants at the property are remarkable,” said Andrew DeNardo, a principal at First National. “We look forward to working with the tenants at the property to ensure their continued success.”
The building is within walking distance of two hotels, the New Jersey Transit train and bus station. It offers ample parking, a rarity in Red Bank, the company said.
First National Realty Partners LLC (FNRP) is a vertically integrated real estate investment firm focused on acquiring institutional quality commercial real estate assets throughout the United States. The firm is an active, opportunistic and value-add investment firm that is equipped to operate in all facets of the real estate acquisition process as investor, developer and asset manager of commercial investment properties.