This spectacular oceanfront tract, located in the most prestigious section of Loveladies, sits on 2.2 acres of oceanfront with 125 feet of ocean frontage. This sequestered, one-of-a-kind building envelope extends 370 feet from the street to the building line, with unobstructed views up and down Loveladies and Harvey Cedars entire shoreline. Rarely does an opportunity like this come along in the most open and expansive section of Loveladies. Unlike almost any other tract, this property affords 360-degree water views, from ocean to bay, sunrise to sunset. The ability to own an entire tract with ocean and bay views may never present itself again. CAFRA approval has been obtained for a 10,500-square-foot new oceanfront home, where the vision is endless and the sky is the limit. There is nothing to compare to this one-of-a-kind site, with the potential to build a custom compound. With so few tracts left and none with 360-degree water views, this property is sure to impress the most discerning of buyers. The opportunity for a grand estate is glorious and simply does not exist in equal measure anywhere on the south end of Loveladies. Musgnug & Associates, a full-service custom architecture firm with over 30 years of experience designing homes on LBI, has been hired by the owner to further his vision of a spectacular, one-of-a-kind, custom-built modern home with only the finest finishes in mind. The property can be available with full construction drawings. Meanwhile, the existing 4500 +/- square foot, 7 bedroom home is updated with a new kitchen and baths. It sits 320' feet back from the boulevard, perched high on a natural dune, with spectacular views up and down the beach. Every room in the current house offers ocean or bay views. Use the house as-is, or build what could be Loveladies' most spectacular oceanfront estate and property yet. For those seeking a fantastic investment proposition or 1031 shelter, the property yields potential gross rent of nearly $400,000 per year and has a dependable high-end rental history with repeat tenants. The location of this full-tract home offers total privacy, amid several other single-home, full-tract properties. Yet the location also offers unique convenience, with Harvey Cedars lifeguards, restaurants, coffee shops, and eateries just blocks away.
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|4/29/2022 12:14:00 PM||New Value: $10,000,000|