Property Description:

BACK ON MARKET

Asking $11,500,000

REDUCED: $8,500,000

Attention all Hotel Owners, Developers & Investors

LANDMARK OCEAN CITY

~ VERY RARE, ONE-OF-A-KIND ~

LUXURY DEVELOPMENT SITE

Now Includes:

~ APPROVED PRELIM SITE PLANS w/
PERMITTED HOTEL USE APPROVAL
~ APPROVED CAFRA PERMITS &
~ COMPLETED FINAL SITE PLANS

OFF BEACH / BOARDWALK LOCATION &
BREATHTAKING OCEAN & BEACH VIEWS

Approved development plan is for an impressive One-Of-A-Kind 4-story  cutting-edge, modern, 76,000 sq ft hospitality-living building that is situated on one very large RARE ACRE of coveted corner BEACH BLOCK/OFF-BOARDWALK shore property. And this lucrative project is just about SHOVEL-READY! (Construction drawings to be completed by Buyer.)  This new unique luxury hospitality real estate investment product is designed to cater to owners and family vacationers of the most discriminating taste, ones who demand the comfort and convenience of 21st century living amenities married with sophisticated high quality beach & vacation living worthy of aspiration.

Spectacular upscale building plans include
35 (3-Bed/3-Bath) LOCKOUT UNITS (consisting of 105 bedrooms w/baths). The majority of “condo living type” units boasts stunning Ocean/Beach/Boardwalk views & a few west facing  units offer magnificent sunset & bay/bridge views. Each of the 35 units features a spacious 1,500 sq ft total living space in a 3-bedroom/3-bath lock-out configuration, which consists of:

~ One 2-bed/2-bath Suite w/sofa sleeper (sleeps 4-6+); sophisticated open-floor plan living areas with floor to ceiling windows bringing natural sunlight throughout the days year round; gourmet chef kitchens w/high end SS appliance package; gorgeous custom tiled baths with massaging spa showers; & laundry.

~ One 1-bed/1-bath luxury King Suite efficiency w/sofa sleeper (sleeps 2-4); & a butler’s pantry.

~ Highly desirable EXTRA-LARGE private outdoor living patio/decks off each unit (ranging from 6 to 8 ft deep)

The modern building amenities cater to exactly what today’s market of buyers and guest renters expect. They will enjoy access to impressive hospitality amenities, unlike anywhere in Ocean City, such as a spectacular Rooftop Deck & Infinity Pool with breathtaking panoramic Ocean/Beach views & relaxing lounge areas; BBQ grilling stations; an exclusive 4,000 sq ft Club House with remote office spaces w/WiFi & conference areas which can be easily converted to banquette/ corporate meeting facility; yoga/wellness & fitness gym facilities; 26 ft ceiling high reception foyer w/dual grand staircases; offices; sophisticated on-site European style cafe, overlooking the front atrium; covered garage facility with electric car charging stations; and many other sought-after high-quality living amenities too long to list.*

Due to its history, size, & unbelievable IDEAL LOCATION, this exquisite property is already considered a landmark Jersey Shore destination; and it’s destined to instantly become the #1 place to own, vacation, escape to relax & play in Ocean City NJ. Choose to develop these approved plans, or opt to re-design/develop/build your own legacy project in center heart of Ocean City’s hospitality zone, overlooking the Ocean City NJ Beach & Boardwalk — America’s Greatest Family Resort! Either way, the central location of this development site is indisputably positioned within Ocean City’s highest traffic volume for beach, boardwalk, hospitality/tourist destination spots, which will prove highly lucrative no mater what you choose to build here.

This SALE for $8,500,000 includes all of the eight following highlights:

1. One generous CONTINUOUS ACRE of very rare, one-of-a kind & highly desirable corner property located right off the Beach & Boardwalk in Ocean City NJ.

2-4. Three adjacent Commercial AS IS income-producing REAL PROPERTIES, including: TWO operating hotels (Pavilion Hotel & Fountainview Motel) and ONE operating apartment building (Moorlyn Apartment Bldg),  altogether generating approx $1.3 million in gross seasonal revenues and profit at a reasonable cap rate.

Please note: Owners are looking to sell ALL THREE existing properties that currently occupy the development site, altogether with development approvals. As a result, Seller has these 3 existing operational hospitality properties also independently listed for sale. Sale of each of the three parcels is contingent on settlement of all 3 properties simultaneously.

CLICK HERE TO WATCH 2015 VIDEO

Details of these 3 operating properties, sold independently, can be found here:

1)   801 Atlantic Avenue
a.k.a Pavilion Motel, Pool & Restaurant
Reduced to: $6,000,000:  Click Here for Listing Details

2)   811 Atlantic Avenue
a.k.a Fountain View Motel
Reduced to: $2,00,000:  Click Here For Listing Details

3)   819 Moorlyn Terrace
a.ka. Moorlyn Apartment Building
Reduced to: $2,000,000:  Click Here For Details

5. PRELIMINARY SITE PLAN APPROVAL. Approved plans to build a top-of-the-line LUXURY & HIGH QUALITY BEACH LIVING (approx 76,000 sq ft) building consisting of 35-Lock-Out Units, together with a very desirable & sought-after “hotel use” approval.

6. APPROVED CAFRA PERMITS

7. FINAL SITE PLANS* (Final Site Plans & Schematics completed and filed, pending Buyer’s application for Planning Board approval & completion of construction drawings)

*Final floor plans and list of common place amenities /facilities are subject to the Buyer’s approval of final construction drawings & site plan.

8. CONSTRUCTION PLANS (Partially completed structural drawings. Construction drawings pending/to be completed by Buyer.)

~ Depending on Buyer’s speed of approval of final construction drawings, final site plan approval & receipt of construction permits, “SHOVEL READY“ status can be expedited to within a few months of contract execution with the Seller.

Other Development Options For This Site:

*PRINCIPAL APPROVED USES ON ANY LOT IN THE HOSPITALITY ZONE INCLUDES SOME OF THE FOLLOWING:

HOSPITALITY DEVELOPMENT: Hotels**; Motels**; Satellite Hotel**; Rooming & Guest Houses; Best & Breakfast Inns; Restaurants; Retail Sales; Retail Services; Commercial Parking Lots; Essential Services; Rental Management Services (**Kitchen facilities shall be permitted in all hotel, motel and satellite motel units.)

RESIDENTIAL DEVELOPMENT: Multi-Family (5 or more dwelling units) buildings; Quadruplex; TriPlex; One Family & Two Family Dwellings (existing lots, subject to bulk requirements; development on lots subsequent to ordinance require a use variance). Mixed Use Buildings.

Signed NDA/Confidentiality Agreement from qualified buyers required.

If you have serious interest & require more information, please call Kristina Doliszny directly now at (609) 412-5547

Listing Agent:

Kristina Doliszny, Ocean City Real Estate Group
Keller Williams Realty – Jersey Shore
1 Atlantic Ave,Ocean City NJ 08226
(609)412-5547-Direct/Cell