801 Atlantic Ave
Ocean City, NJ 08226

This luxury development project, together with its lucrative hotel use approval, is virtually "SHOVEL READY!" It is being offered for sale (or joint venture opportunity). The project is CAFRA & Preliminary Site Plan APPROVED! ATTENTION: Attention Investors/ Developers & Builders: Seller has agreed to outright SELL the real property, together with all project development approvals granted year to date, OR...Seller may consider engaging a potential investor/ JV Partner directly through our firm, the Ocean City Real Estate Group,  in constructing the project with a target ground breaking timeline by this 2019 Fall/Winter, or no later than by this spring.... project is virtually "SHOVEL READY" DESCRIPTION:  The DEVELOPMENT PROJECT FOR SALE includes the acquisition of all of the following: 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. Three adjacent Commercial AS IS income-producing REAL PROPERTIES, including: two operating motels (Pavilion Motel & Fountainview Motel) and one apartment building (Moorlyn Apartment Bldg), all generating profit at an impressive cap rate. 3. PRELIMINARY SITE PLAN APPROVAL (Received March 2018). Approved plan is to build a top-of-the-line LUXURY & HIGH QUALITY BEACH LIVING (approx 76,00 sq ft) building consisting of 35-Lock-Out Units, together with a very desirable & sought-after "hotel use" approval.Description of Building / Units:  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.Majority of units boasts full Ocean/Beach views & a few west facing  units offer 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 condo, which consists of: ~ One 2-bed/2-bath Condo w/sofa sleeper (sleeps 4-6+); full gourmet kitchen w/high end SS appliance package; upscale open-floor plan living room with floor to ceiling windows bringing natural sunlight throughout the days year round; & laundry. ~ One 1-bed/1-bath luxury King Suite efficiency w/sofa sleeper (sleeps 2-4); & a butler's pantry. ~ EXTRA-LARGE outdoor living decks  (ranging from 6 to 8 ft deep) ~ Building Amenities: Property owners & guest renters will enjoy access to impressive property amenities, unlike anywhere in Ocean City, such as: an infinity pool on rooftop deck with relaxing lounge areas, grilling stations with breathtaking panoramic full ocean & beach views; exclusive 4,000 sq ft club house w/ remote office spaces w/WiFi & conference areas which can be easily converted to banquette/ corporate meeting facility; yoga & wellness facility; gym facility; 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.* 4. HOTEL USE APPROVAL (Received March 2018). Property has permission to operate with a "hotel use" approval. 5. CAFRA PERMIT APPROVAL (Received July 2019). 6. FINAL SITE PLANS. (Final Site Plans & Schematics completed and filed, pending Buyer's application for Planning Board approval & completion of construction drawings) 7. 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 3-4 months of contract execution with the Seller. Time is of the essence. Due to its history, size, and unbelievable  LOCATION, this exquisite property is already considered a landmark Jersey Shore destination, and it is destined to instantly become the #1 place to own, vacation, escape to relax and play in Ocean City NJ. This new construction property will be cutting-edge, upscale, modern, sophisticated, and a true "one-of-a-kind"! It is centrally located in the very heart of Ocean City. Park your car and walk to everything! *Final floor plans and list of common place amenities /facilities are subject to the Buyer's approval of final construction drawings & site plan. Please note: This commercial sale is for AS IS properties and is NOT being offered conditioned on its operating properties. However, current AS IS operation is profitable and consist of TWO hotels and ONE apartment building at approx 7% cap rate asking value. This acquisition  opportunity is for a virtually "shovel ready" luxury development/hotel-use project. Financially Qualified Buyers Only. Financial Qualifications or CV, Company/Investor References and a signed NDA/Confidentiality Agreement are all required to engage the Seller through Listing Broker only. Acquisition/construction financing may also be available to qualified & experienced investors /developers/ hoteliers/ buyers only.If you have serious interest & require more information, please call Kristina Doliszny directly now at (609) 412-5547