Multi-Family

1001 First Avenue

1001 First Avenue, Asbury Park, NJ 07712

Listing Price: $2,950,000

Lot Size
1.31 acres
Price/Acre
$2,251,893
Land Type
Redevelopment
Buildable Square Feet
76,740

Investment Overview

Marcus & Millichap is pleased to exclusively present 1001 First Avenue, a development site located on the corner of First Avenue and Langford Street, in Asbury Park, New Jersey. The 57,000 square foot (1.31 acres) vacant lot is entitled for 80 units and 94 parking spaces. The property is located in the Waterfront Redevelopment section, less than a mile from the ocean front.
The property has direct access to the Garden State Parkway, Route 35, and Route 18 and is located approximately one mile from the Asbury Park Train Station, which offers a convenient route to Manhattan. Additionally, it is approximately 50 minutes from Newark Liberty Airport and 50 miles from New York City.
Asbury Park is actively going through a citywide redevelopment. The Waterfront Redevelopment area happens to be the largest section, with approximately 56 acres of Asbury Park are a part of the redevelopment area where 3,164 residential units and nearly 450,000 square feet of commercial space will be built. The city is anticipating an almost complete "rebuild" of the utility infrastructure and public streetscape will be realized.

Investment Highlights

  • The Asbury Park Boardwalk has been Revitalized Including a Contemporary Hotel
  • One Mile From the Beach
  • The Subject Property is Entitled for 80 Apartments and 94 Parking Spaces.

Exclusively Listed By

Listing Price: $2,950,000

Lot Size
1.31 acres
Price/Acre
$2,251,893
Land Type
Redevelopment
Buildable Square Feet
76,740

Investment Highlights

  • The Asbury Park Boardwalk has been Revitalized Including a Contemporary Hotel
  • One Mile From the Beach
  • The Subject Property is Entitled for 80 Apartments and 94 Parking Spaces.

Investment Overview

Marcus & Millichap is pleased to exclusively present 1001 First Avenue, a development site located on the corner of First Avenue and Langford Street, in Asbury Park, New Jersey. The 57,000 square foot (1.31 acres) vacant lot is entitled for 80 units and 94 parking spaces. The property is located in the Waterfront Redevelopment section, less than a mile from the ocean front.
The property has direct access to the Garden State Parkway, Route 35, and Route 18 and is located approximately one mile from the Asbury Park Train Station, which offers a convenient route to Manhattan. Additionally, it is approximately 50 minutes from Newark Liberty Airport and 50 miles from New York City.
Asbury Park is actively going through a citywide redevelopment. The Waterfront Redevelopment area happens to be the largest section, with approximately 56 acres of Asbury Park are a part of the redevelopment area where 3,164 residential units and nearly 450,000 square feet of commercial space will be built. The city is anticipating an almost complete "rebuild" of the utility infrastructure and public streetscape will be realized.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower