Ocean City NJ Real Estate Roundup: Top New Listings Of The Week 2/20/2025

And we are back for another exciting episode of our weekly Real Estate Roundup. We are your hosts, I'm Gray Hawn with Berger Realty. And I'm Pat Davish with OCMJHomes.com. As you guys know, every week we showcase five new listings that hit the Ocean City market. This past week there were a little over 20 new listings. So we were able to pick out the five best listings that we're gonna share with you, give you our insights, our pointers, and why you should actually click. We're starting off with 493335 Central Avenue. This was just relisted. Price just got lowered to eight million, eight and a half million for the whole building. Each floor is five bedrooms, four and a half, well, five bedrooms, five bathrooms. This was built about two years ago, I believe. Sits on a 50 by 100 beach front lot. Each unit is over 3,000 square feet. It's got high-end finishes all throughout. This was a beautiful build that was on the market, I think a little over nine million, now down to eight and a half million, as I mentioned before. And the most interesting thing I saw was that they rented last year and they grossed over 450,000. Yeah, I like this one a lot. This is a relist. So I know we did talk about this when it first came out, but now they're at 8.5 million for the whole building. If you compare that to what other units we're selling for, for five bedrooms, that's a really good buy. And right, they, I mean, last year they grossed like over four, 450. This year they have 450,000 as I was talking already. But you're buying this now, you're walking directly into the black. It's a whole duplex on a 50-foot lot on the south end. You know, it just, it doesn't come along. It's fully fenced on. It's brand new. It's a rare opportunity that five bedrooms don't come very often on the beachfront. We haven't seen too many. And if they are, they're squeezing them on 40-foot lots. So their bedrooms are really tight. This is a 50-foot wide lot, so it's a true five bedrooms. Over 3,000 square foot of floor, bathrooms. And it's right, and it's basically brand new construction. And the whole building, again, it's offered for 8.5 million, but it is being sold separately. It is available for each floor as well. First floor is listed at 4.4 million. And I think this is the first, second floor is for 4.4 million. First floor is for 4.1 million. Yeah. So we're gonna jump to the next one on the list. We're gonna go to 243 North Point Road. This is a single family home on the Coast Guard Lagoon. Very desirable area in the gardens. Another newer home. It's five bedrooms, six and a half bathrooms. The lot size is a 52 by 103 feet deep. A lot of high-end finishes. Has what, two boat slips here, a tax garage. And again, this is, it's a Coast Guard Lagoon. You know, these don't come up very often. When they do, they get stashed up pretty quick and then people hang on to them for a little. Yeah. Asking price is 5.91. And as we're seeing, I mean, you were just talking about this earlier. You know, most new Bayfront properties are coming out over 6 million. This is a pretty rare opportunity. This building is a stunner. It's a gorgeous build. And you're right, this Coast Guard Lagoon, or Whale Tail Lagoon, as I called it previously, but we looked it up, it's actually called Bee Lagoon. Gosh. These people got it for the best. But it's a rare opportunity because properties on this lagoon do not come up very often. And being under 6 million for this type of property, I think it's a pretty good deal. It is, yeah. The Bayfront market is insane, right? New construction, right? It's gonna be over 6 million. Asking price under 6 million, great location, desirable lagoon, it's a good one. Yeah. And it's a little over a 5,000 square foot lot. So, you know, the minimum on these lots right now are close to Cleveland, depending on where you are. So the next one, we're staying in the Gardens neighborhood. We're at 4 East Newcastle Road. It's a four bedroom, two and a half bathroom, single family on a 61 by 93 lot. It's been freshly renovated. It's got some high-end finishes throughout. Large deck, attached garage, nice backyard. We're sitting on Commodore's Row there, which I really like, that neighborhood at Newcastle. And this is a rare opportunity. It's offered at 2.45 million. I like that price for being on the east side of the parkway there, in the Gardens. I mean, I like Commodore's Row. You know, one house in the corner. You have that little parking lot, beach area across the way. And yeah, you're across certain beach area. And for under two and a half million for a single family in the Gardens, this location, it is an older house, you know, 1970. Yeah, 1972, but it's got a nice layout. It works, it's updated. Nice fenced-in backyard, garage. It's got everything you'd want in either a beach house or a primary home. Yeah, I agree. It's a great spot, too. It's a rare location. And not too many times do you have an opportunity to buy a Newcastle Road. And it's a great house. Classic dome, not a brand new build by any means, but it has been updated. And you've got rear access to your garage, backyard, just like you said, but a great spot, great price. It is. Apparently this seller is buying something else. So that's probably why they're being so aggressive with the pricing. And it's a good opportunity to get, you know, a good home at a nice price in the Gardens. Yeah, I agree. So next one, we're going to 101 West 12th Street. This is another Bayfront, but this is a condominium. It's a townhouse layout, three bedrooms, two full baths. What's the name of this? This is Bay 12. Yeah, the Bay 12 Condo Complex. If they're asking prices, 1,250,000, it's nicely, nice maintain. You do get a 30 foot boat slip. There's a saltwater pool. I'm bullish like on the day, especially something like this. You have the three bedroom, doesn't come along very often. I think the last one in this building was what, over four years ago, that sold. So you're on the bay, you have a pool, boat slip, you know, great views. It's a good price. So pets allowed in this building as well. It's a pretty good price compared to everything that's selling on that. I don't believe there's any rental restrictions here. So you have car bonnets, do whatever you want with your condo here. And again, I think it's a good price. I mean, we just saw that line at Marina Views go for 1.1 that we discussed in previous weeks. You know, you get on the bay now, even in a condo, you're over 1 million. And this is a second floor unit. So you got, you know, you're sitting up high, you got great views up there. You know, you can't beat it. So it's slip, boat slip, some of the pool, nice, nice area as well. It's a small complex, there's only what, 10 units in that old building? So it's really, you know, really close knit. And it's a favorite piece. I like that 12th Street, open bay views, you know, nice views of the Knight Street Bridge, Knight and Venice. Yeah, it's a great spot right there in the middle of the island. What is the HOA on that, do you have that? We got all the paperwork for you. And they're out of order to make my life easier. Where you got it on there? It's 561 a month. Okay. And you know, it'll cover your insurances, maintenance there, you know, so it's a piece of number. It is, yeah, they cover everything. Our last one today is 15 Lincoln Place. It's four bedrooms, two bathrooms. This is a Bay Area single family home on a 50 by 70 lot. Needs some updating, but it's a nice single family, classic home, and this is listed at 850,000. We actually just walked this one. You know, it could use some updating, but it's a good opportunity for somebody to get their foot in the door into a single family in a nice neighborhood and potentially, you know, tear down in the future or do some updating. Yeah, I was pleasantly surprised by the condition of the inside. You walked in, it's definitely, you know, a livable tear down. It's not even a tear down, you know, it's much better shape than that. Has all the ductless units for air conditioning. It's a nice lot, 50 by 70, very quiet neighborhood right in the Bay Area. It's a good price, 350. I mean, you're just not finding single families at that price point where they own the island. And when they do come up, they tend to go pretty well. And as we're seeing, I mean, the prices keep going up and land values alone are going up, you know, year after year. So by the time you're into this thing, you'll probably be into it by the land value. And, you know, if you plan on updating or building something new, you can feel like you got a good, you know, those deals are tough to come by for an end user. I think you're getting a good deal today in today's market. Yeah, I do. I agree. You know, it's got a nice back porch that has what, like the awning covering it, Princeton yard, off street parking. It's a good spot. Like you said, I was pleasantly surprised when we walked that property to see about. If you want to buy a boat slip at Nor'eastern, then you got your boat right there. So, that's a good one. Want to take us out? I'd love to take us out. That's going to wrap it up for another episode of our weekly real estate roundup, where we showcase five new listings in Ocean City. We appreciate you guys tuning in, commenting, liking, subscribing. Again, I'm Gray Holland with Burger Realty. And I'm Pat Tavish with ocnjhomes.com.