What's Happening?
A luxury apartment complex in Long Branch, New Jersey, known as Ocean Gate, has been sold for $113 million. The 170-unit multifamily property is located at 30 Ocean Blvd. The transaction was facilitated by Cushman & Wakefield, marking a significant real estate deal in the Jersey Shore area for 2025.
Why It's Important?
The sale of Ocean Gate highlights the ongoing demand for luxury real estate in desirable locations like the Jersey Shore. Such transactions can influence local real estate markets, potentially driving up property values and attracting further investment. The involvement of Cushman & Wakefield underscores the importance of professional brokerage in high-value real estate deals.
