The top-floor penthouse at the Asbury Ocean Club— Courtesy: Binyan Studios
By Joshua Burd
A penthouse at a new Asbury Park condominium tower has sold for $5 million, in a sign of strength for the ongoing revitalization of the city’s iconic waterfront.
The developer, iStar, announced the closing of the first penthouse at its Asbury Ocean Club Surfside Resort and Residences, which welcomed its first occupants this summer. The oceanfront property is performing well overall, the firm said, noting that it expects to close 25 percent of the building this year.
“Asbury Park has arrived. As one of the most talked about, trend-setting destinations in the Northeast, the city’s rich history and commitment to art, culture and music has become evident on an international scale,” said Jodi Stasse, senior managing director of Corcoran Sunshine and leader of the project’s sales and marketing team. “Asbury Ocean Club offers both a tranquil resort setting and a vibrant city energy with restaurants, concerts and shops just steps away from the property.”
The penthouse was one of six that iStar put on the market earlier this year, including a top-floor, four-bedroom unit with an asking price of nearly $6 million. All told, the property includes 130 for-sale homes overall and sits atop a 54-room hotel that opened July Fourth weekend.
The Asbury Ocean Club Surfside Resort and Residences is the centerpiece of the developer’s efforts in Asbury Park, which go back more than a decade and span 35 acres. Those efforts have anchored a 10-year, multibillion-dollar redevelopment plan for a 1.25-mile stretch along the city’s waterfront.
The Manhattan-based developer launched sales at the majority of the condos in summer 2018, touting a location 70 minutes from New York City, with prices for one-bedroom homes starting around $900,000. Layouts range from one- to three-bedrooms, offering sweeping ocean views, wraparound terraces and other elements of luxury design.
Each home has high-end appliances, finishes and layouts, along with floor-to-ceiling windows, according to a news release. Amenities include an ocean-view fitness center, a spa, dedicated children’s facilities and entertainment and meeting spaces, along with a residential concierge, a dog wash and a library and game room.