Real Estate

Unbuilt Jersey Shore Penthouse Sells for Record $6 Million

Unbuilt Jersey Shore penthouse sells for record $6 million at $1,401 per square foot.

By Doug Elli

5/23, 14:11 EDT
article-main-img

Key Takeaway

  • An unbuilt penthouse at the Atlantic Club in Long Branch sold for a record $6 million, or $1,401 per square foot.
  • The Atlantic Club will feature 132 homes with extensive amenities and is expected to be completed by summer 2026.
  • Kushner Companies secured $100 million financing for a mixed-use project in Long Branch, also slated for completion in 2026.

Record-Breaking Condo Sale on Jersey Shore

In a landmark transaction, Stillman Development International has secured a $6 million deal for one of the two penthouses at the Atlantic Club in Long Branch, New Jersey. This sale, which equates to $1,401 per square foot, is being touted as the highest price ever paid for a condominium in the city. The Atlantic Club, located at 390 Ocean Avenue, is set to become a premier luxury development on one of Monmouth County’s last remaining oceanfront plots. The complex will feature 132 homes, including the two penthouses, each spanning over 4,200 square feet with five bedrooms, ocean views, private balconies, and terraces.

The Details of the Atlantic Club

The Atlantic Club is designed to offer an unparalleled living experience with 75,000 square feet of amenities. Residents will have access to a fitness center, business center, game room, virtual reality room, cinema, pet spa, and children’s playroom. The development is replacing the former Sea View Towers, an apartment complex that was demolished after failing a code inspection in 2020. Construction of the Atlantic Club is expected to be completed by summer 2026, promising a new era of luxury living on the Jersey Shore.

Long Branch's Real Estate Boom

Long Branch is experiencing a surge in real estate development, with significant projects underway. In addition to the Atlantic Club, Kushner Companies recently secured $100 million in financing for a $130 million mixed-use project at 144 Broadway Place. This development, also slated for completion in 2026, will feature 299 residential units, 21,000 square feet of retail space, and 558 parking spaces. Amenities will include a theater, yoga studio, outdoor deck, rooftop terrace, and co-working space, with a SuperFresh grocery store occupying part of the retail area.

Implications for the Jersey Shore Market

The record-breaking sale at the Atlantic Club highlights the growing demand for luxury real estate on the Jersey Shore. This trend is indicative of a broader shift towards high-end, amenity-rich living spaces in prime locations. The influx of significant investments and high-profile developments in Long Branch underscores the area's potential as a burgeoning real estate hotspot. These projects are not only transforming the local skyline but also setting new benchmarks for property values and living standards in the region.