Sea View Towers
BlueGate Partners has been exclusively retained by the owner regarding its sale of the fee simple interest in the Sea View Tower Development Site located in Long Branch, Monmouth County, New Jersey (“Property” or the “Site”). The site proposals have been approved by the Monmouth County Planning Board and complies with CAFRA requirements. The Site totals approximately 3.68 acres and has 379 linear feet of prime Atlantic Ocean frontage along Ocean Avenue. The Site is approved for a maximum of 100 residential units with an additional requirement of approximately 64,000 square feet of commercial or non-residential usage. Hotel use is permitted on the site and would count towards the non-residential requirement.
Given the extreme lack of oceanfront development sites, the Site is one of the most desirable development parcels on the New Jersey shore. Further, with Long Branch’s reemergence of the Oceanfront-Broadway Redevelopment Plan and over $1 billion in new development currently under construction, the town is experiencing a major renaissance.