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UNIQUE WATERFRONT DEVELOPMENT

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NBC 10 Transcripts
5−29−2008

Beachfront Compound In N.J. Yours For $15M

Gated, Beachfront Community Said To Be Ocean City Real Estate First

OCEAN CITY, N.J. - It's being called a real estate first for Ocean City.

A new, Mediterranean-style compound is said to be the first gated, beachfront community in the shore town.

If you have about $15 million in your back pocket, all of it could be yours, NBC 10's Ted Greenberg reported.

It is a place flowing with old-world Italian romance mere feet from the Atlantic in modern-day Ocean City.

"They just drew me right off the boardwalk," said Patti Singer, of Huntingdon Valley, Pa. "They're just so beautiful. I had to stop and look."

It's call the Santa Rosa, and developer Achristavest is behind it all.

"You're really feeling like you're transported to Europe in a Mediterranean setting," said Achristavest Project Manager Josh McCallen.

A courtyard is surrounded by two, four-bedroom, four-bath, single-family homes and two condominiums at the sprawling estate located at 16th and the Boardwalk.

You can buy the condos individually for as low as $2.5 million, get a main home and a condo guesthouse for $7.3 million, or acquire the whole thing for just under $15 million.

"$15 million? OK," Singer said when told the price.

From handcrafted railings to imported marble flooring, the Santa Rosa is loaded with lavish amenities and, of course, stunning views.

"This is one of the most rare things, waterfront properties together. It's almost impossible to do," McCallen said. Still not sold? Well, with each house or condo the developer is throwing in an incentive: a slow-speed, street legal, electric car, Greenberg reported.

"It's going to be great this summer without the gas. You won't even need it. Just plug it in when you get home," McCallen said.

The estate has been on the market since September.

"Maybe they have some literature, and I'll take it home to my husband," Singer said.

When asked what her husband might say, Singer replied, "What do you think he'll say? He'll say, 'Play the lottery.'"

So far, there have been plenty of showings, but the builders are still waiting to close a deal, Greenberg reported.



 
   
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