SURFHOUSE (foreground) at 1150 Kingsley St. in Asbury Park — Courtesy: Starfield Cos.
By Joshua Burd
Starfield Cos. is marking its latest milestone in Asbury Park, unveiling a 226-unit luxury rental property that is the first of its kind in the historic Jersey Shore community.
The developer welcomed city officials and other well-wishers last week to what’s known as SURFHOUSE, at 1150 Kingsley St., where residents will be just two blocks from the boardwalk and the Atlantic Ocean. The property is now set to hit the market with 206 apartments that range from studios to three-bedroom units, along with 20 four-story townhomes with two-car garages and private rooftop terraces, some featuring views of the beachfront and a private courtyard.
It’s the latest offering for a firm that has already spearheaded major condominium and hospitality projects in Asbury Park over more than a decade, part of a sweeping plan that will ultimately include more than $1 billion in new residential, hotels, retail and public improvements.
“We’ve set a new standard for the oceanfront by curating exceptional living experiences and introducing effortless luxury to Asbury Park,” said Brian Cheripka, a principal with Starfield Cos. “SURFHOUSE builds on that momentum by offering the opportunity to lease the same coastal lifestyle, giving future residents the chance to fall in love with our community before deciding to officially call it home. Even better, it will generate new tax revenue for the city and fuel our continued investment in the community.”
SLIDESHOW: SURFHOUSE in Asbury Park
Starfield noted that, to date, the Asbury Park redevelopment plan has resulted in more than $500 million invested in the city. That includes flagship properties like The Asbury, a 110-key hotel that opened in 2016, as well as the legendary bowling alley-turned-music venue Asbury Lanes.
There’s also the Asbury Ocean Club Resort and Residences, a boutique hotel and collection of 130 high-end condos that hit the market in 2018 and set multiple price records for Monmouth County, with some homes fetching more than $5 million, the firm said. Its original six projects in the 35-acre redevelopment area generate more than $3 million in new tax revenue for the city, representing 18 percent of the annual municipal share, while Starfield pointed to more than $40 million already dedicated to public infrastructure improvements such as boardwalk extensions, landscaping, lighting, sidewalks and street upgrades.
The firm now aims to launch leasing and welcome its first renters this month at SURFHOUSE, which has 15,000 square feet of amenity spaces such as a fully landscaped courtyard, a resort-style pool and sun-shelf, a resident lounge, a modern fitness studio and a rooftop terrace with ocean views. Monthly rents for studios start at $2,700.
“We are pleased to see continued investments in our city and are ready to welcome a new multifamily rental offering,” Asbury Park Mayor John Moor said. “SURFHOUSE will bring additional new tax revenue to our community, and we are proud to work with Starfield Companies as they continue to follow through on delivering a vibrant, fully revitalized oceanfront.”
Starfield, manager for iStar Residential, is spearheading those efforts with a team led by Cheripka and fellow Principal David Furgal, while Jennifer Phillips Smith of Gibbons PC has served as their lead redevelopment attorney. That process has also included selling parcels to several well-known builders to accelerate other phases, including:
- LIDO Asbury Park, a collection of 112 luxury condos by Inspired by Somerset Development that will open alongside the city’s legendary Wonder Bar, with architecture by Minno & Wasko Architects and Planners and Clodagh
- 400 Lake, a luxury townhome community along Wesley Lake by Toll Brothers
- The Baltic and The Aegean, two new waterfront condo projects by K. Hovnanian Homes, the developer behind the sold-out townhome community The Cove at Asbury Park
Floorplans at SURFHOUSE, which was designed by Lessard Design, with interiors by Fogarty Finger, range from 700-square-foot studios to three-bedroom homes averaging 1,200 square feet, according to a news release. Renters will have access to its full selection of amenities along with features such as electric vehicle charging stations, secure bike and surfboard storage and pet-friendly elements, as well as 3,500 square feet of retail space along Kingsley Street.
Starfield-led team lands $80 million construction loan for Asbury Park rental project, JLL says
