Cushman and Wakefield, as an exclusive agent, is pleased to offer for sale a 100% fee interest in Ocean Gate.
Situated steps from the beach along Ocean Boulevard in Long Branch, NJ, this 170-unit luxury apartment community features condo quality finishes with units averaging 1,288 SF, uniquely positioning the property to cater to the affluent young families and empty nesters seeking an unrivaled oceanfront living environment. The neighborhood along the waterfront in Long Branch is characterized by its beautiful coastal charm and vibrant atmosphere.
The community is located at the confluence of Route 36 and Route 18 that connects to the Garden State Parkway, offering residents convenient commutability to NYC and throughout the region, as well as benefits from its bucolic suburban setting on 11.6 acres with access to numerous retail, shopping and nightlife destinations.
To receive access to the online download center, please execute the confidentiality agreement via the link below. The property is being offered unpriced, and a call for offers will be announced at a later date.
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OPPORTUNITY TO OWN BEST-IN-CLASS NEW CONSTRUCTION
• Newly built property in 2023, featuring top-tier apartment finishes and an array of exceptional amenities.
• Perfectly situated for renters seeking a dynamic coastal living environment, with spacious open floor plans and lofty ceilings, all at an appealing price point when compared to the cost of homeownership
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EXCEPTIONAL LOCATION & ACCESS
• Conveniently situated just two blocks away from the beach, as well as a vibrant array of restaurants and exciting outdoor recreational activities
• Nestled alongside the picturesque Ocean Boulevard, which runs in close proximity to the beachfront, and is less than a mile away from Route 36 which leads to the Garden State Parkway
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DYNAMIC LIVE, WORK, PLAY
• Offer an impressive 22% increase in unit size compared to the competition average, leading to a premium price per square foot
• Average household income of $124,314 within a 3-mile radius
• High local predisposition to renting with 66% of the population within a 1-mile radius comprised of renters
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# OF UNITS
170 Units
(100% Market Rate)
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AVG. IN-PLACE RENT
$4,420
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RESIDENTIAL
OCCUPANCY
In Lease Up
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NIKO NICOLAOU
Vice Chairman
+ 1 732 233 9522
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RYAN DOWD
Managing Director
+ 1 201 508 5278
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JP HOHL
Financial Analyst
+ 1 201 426 2225
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FOR INFORMATION ON FINANCING |
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JOHN ALASCIO
Vice Chairman
+1 212 841 9238
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CHUCK KOHAUT
Senior Director
+1 201 508 5219
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TJ SULLIVAN
Senior Director
+1 212 841 7977
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Cushman & Wakefield, LLC | Capital Markets
One Meadowlands Plaza, 7th Floor, East Rutherford, NJ
+1 201 935 4000
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© 2024 Cushman & Wakefield. All rights reserved. The information contained in this communication is confidential, may be privileged and is intended for the exclusive use of the above named addressee(s). If you are not the intended recipient(s), you are expressly prohibited from copying, distributing, disseminating, or in any other way using any information contained within this communication. This information has been obtained from sources believed to be reliable but has not been verified. NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE CONDITION OF THE PROPERTY (OR PROPERTIES) REFERENCED HEREIN OR AS TO THE ACCURACY OR COMPLETENESS OF THE INFORMATION CONTAINED HEREIN, AND SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, WITHDRAWAL WITHOUT NOTICE, AND TO ANY SPECIAL LISTING CONDITIONS IMPOSED BY THE PROPERTY OWNER(S). ANY PROJECTIONS, OPINIONS OR ESTIMATES ARE SUBJECT TO UNCERTAINTY AND DO NOT SIGNIFY CURRENT OR FUTURE PROPERTY PERFORMANCE. This e-mail may be considered advertising under federal law. |
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