New Development In Seaside Heights, New Jersey - Huge Project

Well I figure this is the easiest way to get in contact with everyone that I spoke with about this project before. The project that my partner and I have been working on has finally gotten approval in Seaside Heights. As many know, Seaside Heights is on a redevelopment plan and I have allocated 16 new condo units for sale exclusively through our agency. Prices are running between $550,000 - $625,000. Not going to give all the details in this thread. PM me or e mail me if you are interested.

 

This development is 1 block from the beach & boardwalk. We knocked down the Oceania Motel and are using the property. 16 total units. Corner units are $625,000 in the front, $600,000 for the corner units in the back. $575,000 for the other front units and $550,000 for the other back units. A driveway will run through dividing the front and rear units.

 

We are trying LOL! One project at a time. In a few years Seaside Heights will be drastically different and first time prospectors will make the money.

Thanks Lupe. So far so good. 90% of the project has been sold in the last few days.

 

We have just a few of these units left that we are trying to just move as we are wrapping up another $3,000,000 project in LBI. We are willing to discount these $30,000 so here is the new pricing:

Back Middle Units: Were $550,000 NOW $520,000

Front Middle Units: Were $575,000 NOW $545,000

Front End Units: Were $625,000 NOW $595,000

Rear End Units: Were $595,000 NOW $565,000

These units feature 2 car heated garages, 4 bedrooms in the corner units with 3 1/2 baths or 3 bedrooms with 2 1/2 baths in the middle units. Each unit also has a family room, four - five fiberglass balconies, granite countertops, full appliance package, hardwood floors and more. One block to the beach and boardwalk!!! Let me know if anyone is interested. Hope to talk to you all soon.
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No problem. Talk to you then. Also some other info for interested parties:

- Comparable Rentals Are Going For Around $2000 - $2500 A Week So That Can Cover Your Mortgage
- Delivery Can Be As Soon As August.

 

Winter is not the prime, mostly summer. Here are some figures:

$520,000 Purchase Price
10% Down = $52,000
Financed = $468,000

Approx Mortgage w/Taxes & Association Fees Is Approx $3200 A Month
Annually $38,400

Rentals At $2500 A Week x 16 Weeks = $40,000
***May, June, July, August***

If done right, you should be able to break even or pay very little out of pocket each year.

 

Thanks. I know that this was a big problem before, but it is getting better and better every year. This project is on the ground level. In 5 years Seaside will be totally different resulting in prices going much higher.

 

Just posted for you.